Sen. Marsha Blackburn (R-TN) is introducing legislation to cut federal spending as a debt limit standoff between Republicans and Democrats intensifies.
The federal government reached its $31.4 trillion debt limit earlier this month, prompting the Treasury Department to take “extraordinary measures” to ensure the country avoids a default. These measures could be exhausted by early summer, according to Treasury Secretary Janet Yellen, meaning Washington has just months to broker a deal to raise the borrowing cap.
Blackburn, a new member of the prominent Senate Finance Committee, is looking to move the ball forward, proposing three separate bills that would enact across-the-board cuts to non-defense, non-Homeland Security, and non-Veterans Affairs discretionary spending for fiscal 2024 and 2025 — one by 1%, another 2%, and the third by 5%.
“Over the past two years, the federal government has squandered over $6 trillion on Biden’s radical left-wing agenda alone, causing our national debt to skyrocket to over $31 trillion and inflation to soar to record highs,” Blackburn said in a statement obtained by the Washington Examiner."Congress should have to practice logical spending habits and balance a budget, just like every family in America.
“No president added more to the national debt than my predecessor. Nearly 25% of the entire national debt that took over 200 years to accumulate was added by just one administration alone," Biden said in a reference to former President Donald Trump.
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