RSC Chairman Jordan: "Redeem Our Credit Rating & Clear a Path for Jobs!"

The Republican Study Committee (RSC) in the United States House of Representatives has been chaired by some outstanding conservative leaders over the past several decades including Congressmen Bob Dornan (R-CA); Tom DeLay (R-TX); Dan Burton (R-IN), Tom Price (R-GA), Barbara Vukonovich (R-NV,) Jeb Hensarling (R-TX), and many others.  The RSC's current chairman, Congressman Jim Jordan, R-OH, is destined to become one of the great chairmen of the now nearly 180-member conservative committee. 
 
Last month, Chairman Jordan and his committee gave a huge boost to Congressman Jason Chaffetz (R-UT,) as he saw his "Cut, Cap and Balance Act of 2011" pass by a large bipartisan majority (234-190) in the House of Representatives.  Unfortunately, the Democrats in the Democrat-controlled Senate refused to even vote on this commonsense bill or to even allow a minute's worth of debate on the floor of the United States Senate. 
 
Instead, the thoroughly inadequate legislation which the Democrat leader in the Senate, Harry Reid, basically forced to a vote in both chambers of Congress  --  after refusing a vote on the cut, cap and balance bill  --  and signed into law by Barack Obama, undoubtedly caused America to lose its AAA credit rating.  A top official at the rating agency, Standards and Poor's, which down-graded America's credit rating to AA+, said that had the balanced budget amendment been in the final legislation, America would have kept its stellar credit rating.
 
Congressman Jordan said this about the United States of America losing its credit rating, "S&P's downgrade is a warning shot the whole world saw coming. And if we don’t heed this warning with serious spending reduction, additional downgrades are likely."  He also said, "We have to get Washington out of the way to get the economy moving again. The way forward is clear -- cut spending, cut red tape, and force Washington to balance its budget."  The rest of RSC Chairman Jim Jordan's statement is directly below:

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RSC Update: Redeem Our Credit Rating & Clear a Path for Jobs

S&P's downgrade is a warning shot the whole world saw coming. And if we don’t heed this warning with serious spending reduction, additional downgrades are likely.

Tinkering around the edges won't solve the problem. Clearly, we need to try something bolder. Even the Italians, with bigger debt problems than ours, are moving to amend their constitution to require a balanced budget.  It's time the U.S. did the same. We need to cut more, cap lower, and send a Balanced Budget Amendment to the states for ratification.

Americans are over-taxed and out of work, but Washington continues to spend more than it takes in while hindering American job creation and economic growth. The uncertainty caused by our debt problems has dampened our economy, but it's not the only thing holding back job creation. Our tax code needs reform to make us more competitive in the world market. We need a pro-American energy policy that makes use of the resources at our disposal. We also need regulatory relief. In July alone, the Obama administration proposed 229 new rules and finalized 379. These additions to the growing mountain of federal regulation will have an economic cost of $9.5 billion and countless jobs.

We have to get Washington out of the way to get the economy moving again. The way forward is clear -- cut spending, cut red tape, and force Washington to balance its budget.

God Bless,

Congressman Jim Jordan
Chairman, Republican Study Committee

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