{"id":600068,"date":"2021-07-22T12:21:34","date_gmt":"2021-07-22T16:21:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=600068"},"modified":"2021-07-22T12:21:38","modified_gmt":"2021-07-22T16:21:38","slug":"republicans-ask-for-spending-cuts-as-congress-prepares-for-debt-ceiling-battle","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republicans-ask-for-spending-cuts-as-congress-prepares-for-debt-ceiling-battle\/","title":{"rendered":"Republicans Ask For Spending Cuts As Congress Prepares For Debt Ceiling Battle"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frepublicans-ask-for-spending-cuts-as-congress-prepares-for-debt-ceiling-battle%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=600068&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1076708632-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>As Congress prepares to spar over rising national debt levels, Republican lawmakers asked leadership from both parties to cut spending.<\/span><\/p>\n<p><span>Two years ago, Congress suspended the debt ceiling \u2014 a measure that bars the United States from amassing a certain level of national debt \u2014 until July 31, 2021. In a July 21 <\/span><a href=\"https:\/\/www.scribd.com\/document\/516856224\/House-Budget-Committee-Republicans-Letter-on-Debt-Limit#download&amp;from_embed\"><span>letter<\/span><\/a><span>, Republican lawmakers drew the attention of Congressional leadership \u2014 including House Speaker Nancy Pelosi (D-CA), House Minority Leader Kevin McCarthy (R-CA), Senate Majority Leader Chuck Schumer (D-NY), and Senate Minority Leader Mitch McConnell (R-KY) \u2014 to shortcomings in the United States\u2019 fiscal policy revealed by the looming end of the suspension.<\/span><\/p>\n<p><span>The letter reads:<\/span><\/p>\n<blockquote readability=\"10\">\n<p><i><span>With record amounts of government spending over the past two years accompanied by historic levels of inflation, in addition to the dramatically changed fiscal conditions of the country over the past five decades, it is imperative for Congress to take meaningful steps now to place our country\u2019s finances on a more sustainable and appropriate path. The upcoming expiration of the debt limit suspension provides an opportunity for Congress to do just that and instill some responsible and real controls over government spending.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>The lawmakers noted that the federal government is slated to spend $6.8 trillion in 2021 and $63.4 trillion between 2022 and 2031. The projections do not include Congressional Democrats\u2019 policy agenda, which calls for a $3.5 trillion spending package and \u201cpotentially trillions of dollars more.\u201d<\/span><\/p>\n<p><span>The letter pointed to government expenditures as a source of rising price levels:<\/span><\/p>\n<blockquote readability=\"11\">\n<p><i><span>Unchecked government spending is increasing inflation across the economy and harming American families \u2014 especially those on low and fixed incomes. Americans are already experiencing rising costs for basic goods and necessities such as food, clothing, medicine, and gasoline. Inflation this year is on track to be the highest since 1981. Rising inflation combined with out-of-control government spending only exacerbates the nation\u2019s unsustainable fiscal trajectory.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>To control federal budget deficits, the lawmakers recommended spending-to-GDP targets, debt-to-GDP targets, discretionary spending limits modeled on the Budget Control Act of 2011, and a balanced budget amendment to the United States Constitution.<\/span><\/p>\n<p><span>As <\/span><a href=\"https:\/\/www.dailywire.com\/news\/pointing-to-national-debt-ratings-agency-issues-negative-outlook-for-us-aaa-creditworthiness\"><span>The Daily Wire<\/span><\/a><span> reported last week, Fitch Ratings \u2014 which is one of the \u201cBig Three\u201d credit rating agencies on Wall Street alongside Moody\u2019s and Standard &amp; Poor\u2019s \u2014 issued a \u201cNegative Outlook\u201d on the United States\u2019 creditworthiness due to rising levels of debt.<\/span><\/p>\n<p><span>Though the nation retained its \u201cAAA\u201d rating, Fitch noted that the outlook \u201creflects ongoing risks to the public finances and debt trajectory, notwithstanding the improvement in Fitch\u2019s fiscal and debt projections since its last review.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As Congress prepares to spar over rising national debt levels, Republican lawmakers asked leadership from both parties to cut spending.Two years ago, Congress suspended the debt ceiling \u2014 a measure &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-600068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/600068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=600068"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/600068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=600068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=600068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=600068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}