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Boehner, Cantor: Mr. President, let’s get to work – USATODAY.com

August 17, 2011

Boehner, Cantor: Mr. President, let’s get to work

By John Boehner and Eric Cantor

August 17, 2011

Standard & Poor’s decision to downgrade our creditworthiness is a clarion call to get America’s fiscal house in order. The jobs and savings of too many Americans are at stake for Washington to continue ducking the toughest choices.

By Mark Wilson, Getty Images

The American people elected the new House Republican majority with orders to stop Washington from spending money it doesn’t have, and we listened. This spring, the House passed a budget that would cut spending by trillions of dollars and encourage private-sector job creation through economic growth — without raising taxes. Among its key components are tax reforms that broaden the base and lower the rates for everyone, while making the tax code more fair by closing loopholes.

Our budget also included real reforms that preserve and strengthen our insolvent entitlement programs, which are the biggest drivers of our debt. These kinds of reforms are “key to long-term fiscal sustainability,” according to S&P’s report. Unfortunately, the Democrats running Washington rejected both our budget and a “cut, cap and balance” plan the House passed recently that would also save trillions.

Over the last few months, we tried to persuade President Obama to do something significant to address our debt crisis, on the scale achieved in the House Republican budget. Yet time and again, he and his allies demanded tax increases on families and small businesses, tax increases that would destroy jobs. With nervous markets, unemployment at more than 9% and millions of Americans asking, “Where are the jobs?,” the worst thing Washington can do for our economy is raise taxes on the people we need to start hiring again.

The Budget Control Act, recently signed into law after months of hard work, represents a step toward fiscal sanity in Washington, but only a step. It includes spending cuts larger than the increase in the debt limit, real caps to restrain future spending, and no tax increases.

There’s certainly no victory lap to be taken, especially when more could have been done. Our hope is S&P’s wake-up call will show President Obama and his allies that they can no longer afford to tinker around the edges when it comes to our debt crisis.

via Boehner, Cantor: Mr. President, let’s get to work – USATODAY.com.

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