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House Republicans Looking For Significant Spending Cuts

House republicans get their chance today to lay out their plan for solving the debt-ceiling stalemate.

Capitol building

Photo: Andy Withers (Flickr)

The House is expected to pass the "cut, cap and balance" bill today.

The House is expected to pass the “cut, cap and balance” bill, coupling the debt limit increase with immediate spending cuts, a cap on future spending, and a constitutional amendment requiring a balanced budget. All Indiana‘s Republicans in Congress are cosponsoring the measure except Senator Richard Lugar and Ninth District Representative Todd Young, but Young said he has been asked to be added. Young said it‘s critical to make “significant” spending cuts to begin to get the debt under control.

“We need to do our duty over here in the House, pass this sort of responsible measure, and then if the Senate chooses not to act, they do so at their own peril,” said Young. “As I travel around southern Indiana, I‘m hearing people demand that we get our spending under control.”

He said there is little choice but to raise the debt ceiling, but said “cut, cap and balance” is the only plan he‘s seen so far that would make serious progress against the long-term problem. The Democratic Senate is less enthusiastic about the plan, and President Obama warned Monday he‘ll veto it if it reaches his desk. The White House calls it “unrealistic” and “an empty political statement.” A coalition of conservative and Tea Party groups have gone further, gathering signatures on a pledge to refuse to raise the debt ceiling without the elements of “cut, cap and balance.” Signers include Lugar‘s primary challenger Richard Mourdock and Fifth District Representative Dan Burton. Five Governors have pledged to pressure their state‘s delegation to take the same stand. Indiana‘s Mitch Daniels is not among them. Daniels said he agrees with the plan‘s general thrust, but said he‘s made a practice not to sign pledges committing him to a specific course of action.

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