Tea Party New Senators (Rubio, Paul, Lee, Toomey) & 6 More Senators Sign Cut-Cap-Balance Pledge

"The Hill" newspaper today reported that ten Republican Senators vowed to vote against the debt-ceiling increase demanded by Barack Obama without a balanced budget constitutional amendment.  In addition, before approving an increase in the debt ceiling, the Senators are demanding substantial cuts in spending that will reduce the deficit and forcing spending caps upon the United States Congress. 

The ten Senators and a growing number of Members in the United States House of Representatives, are also insisting that the balanced budget constitutional amendment "must include spending limits and a supermajority requirement for raising taxes."  "The Hill" reported that these are the Senators who have signed the Cut-Cap-Balance Petition:  "Sens. Jim DeMint (S.C.), Lindsey Graham (S.C.), Rand Paul (Ky.), Mike Lee (Utah), Marco Rubio (Fla.), James Inhofe (Okla.), Jerry Moran (Kan.), Pat Toomey (Pa.), David Vitter (La.), and Sen. Orrin Hatch (Utah), ranking Republican on the Finance Committee."
 
Senator Rand Paul's father, Congressman Ron Paul, R-TX, became the first presidential candidate today to sign the Cut-Cap-Balance Pledge.  Statements of Senators Rubio, Paul, Lee and Toomey are directly below:

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SENATOR RUBIO SIGNS THE CUT-CAP-BALANCE PLEDGE

Washington, D.C. – Today, U.S. Senator Marco Rubio announced his support of the Cut-Cap-Balance pledge, which asks Senators and members of Congress to pledge to make substantial cuts in spending, enforce spending caps and pass a balanced budget amendment.

With these three critical components in place, we can begin to restore fiscal sanity by reducing future deficits and minimizing our massive $14.3 trillion debt. Requiring a balanced budget will ensure that lawmakers can no longer pay for programs on the backs of future generations.  Today’s announcement comes on the heels of the Congressional Budget Office’s (CBO) newly released long-term budget outlook, which shows that our national debt will soon exceed the size of our entire economy.

“On a day when the CBO offers yet another dire warning about America’s looming debt crisis, it is especially important that leaders in Washington commit to the Cut-Cap-Balance pledge,” said Rubio. “The path we are on is no longer sustainable, and hasn’t been for some time. The tenets of this pledge are the same that I promoted in my campaign, and the same that countless Floridians and Americans are asking for. I am committed to cutting wasteful spending, capping overall spending and balancing the budget as critical policies to maintain our nation’s strong economic foothold in the global market.”

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Sen. Paul Signs Pledge to Cut, Cap and Balance the Budget

WASHINGTON, D.C. – Today, Sen. Rand Paul declared his support of the Cut-Cap-Balance Pledge, which urges Members of Congress to oppose any debt limit increase unless three major conditions are met. Sen. Paul was joined by nine other Republican Senators, 11 House Republicans, and members of advocacy groups representing thousands of Americans.

Sen. Paul made the following statement regarding his signing of the pledge this afternoon:

“Bold action is needed to address our nation’s looming fiscal crisis and I urge my Senate colleagues as well as Members in the House to fulfill our duty to the American people who want us to address this issue. Our national debt currently stands at $14.3 trillion. To defeat such a tall order, we as a Congress must get serious about the solutions we propose to restore fiscal discipline and prosperity.”

“I pledge, and encourage other Members of Congress to join me in pledging, to oppose any debt limit increase that does not include a plan of spending cuts, caps and most importantly an iron-clad balanced budget amendment.”

“I am convinced, after my time here in Washington, that the only way we can get our fiscal house in order is through structural reform such as those proposed in the Cut Cap Balance Pledge. With these conditions in place, we can begin the process of defeating this catastrophic national debt, which is why I wholeheartedly pledge my support.”

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Lee Signs Cut, Cap, Balance Pledge

WASHINGTON – Today, Senator Mike Lee announced his support for a plan that would fundamentally change the way the federal government spends taxpayer money.  Known as “Cut, Cap, and Balance,” the proposal seeks to significantly reduce the annual deficit, place a statutory cap on federal spending at 18% of GDP, and pass the Hatch-Lee Balanced Budget Amendment out of both houses of Congress, all before allowing a vote on raising the nation’s debt ceiling. 

“Cut, Cap, and Balance is the single most significant reform package Congress has seen in decades,” said Senator Lee. “It forces Washington to balance its books with strict, enforceable fiscal restraints and will cut spending significantly and immediately to improve our economy and create jobs.”

Earlier in the week, Senator Lee became the first Member of Congress to sign the Cut, Cap, Balance Pledge, which was announced at a press conference today.  The pledge signifies a commitment to passing all three provisions of the plan before a vote to increase the nation’s debt ceiling takes place.

“We cannot continue to rack up debt without first addressing the underlying problems that cause Washington to overspend,” Lee added. “Supporters of the pledge are saying we want to fix the problem before it gets any worse.  Opponents believe we can keep piling up debt and just hope Washington changes on its own.  We owe future generations more than that and have a responsibility to do the right thing for them today.”

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Sen. Toomey Signs “Cut, Cap, Balance” Pledge

WASHINGTON, D.C. - Today, U.S. Senator Pat Toomey (R-Pa.) signed the "Cut, Cap, Balance" pledge along with many of his congressional colleagues.

By signing the pledge, Sen. Toomey will not support an increase in the debt limit unless thisCongress meets all three of the following conditions:

  • Cut: Substantial cuts in spending that will reduce the deficit next year and thereafter. 
  • Cap: Enforceable spending caps that will put federal spending on a path to a balanced budget. 
  • Balance: Congressional passage of a balanced budget amendment to the U.S. Constitution.

To date, 11 senators have signed the pledge in addition to Sen. Toomey: Sens. Jim DeMint (R-S.C.); Lindsey Graham (R-S.C.); Orrin Hatch (R-Utah); Dean Heller (R-Nev.); Jim Inhofe (R-Okla.); Mike Lee (R-Utah); Jerry Moran (R-Kan.); Rand Paul (R-Ky.); Marco Rubio (R-Fla.); and David Vitter (R-La.).

The pledge is being sponsored by 42 policy and advocacy groups. For a complete list, click here.  To read more about the "Cut, Cap, Balance" pledge, click here.

"For a long time I have argued that the most irresponsible thing we can do is raise the debt limit without imposing badly needed spending cuts and structural reforms," Sen. Toomey said. "The debt ceiling debate is our best chance, if not the only one remaining, for this Congress to show the American people that we will stop the overspending and skyrocketing debt. I support the 'Cut, Cap, Balance' pledge because it clearly spells out how we can achieve this goal."

"Along the lines of the pledge, I helped craft a balanced budget amendment to the Constitution that was cosponsored by all 46 of my caucus colleagues. I also offered a budget proposal that will cap federal spending at 18.5 percent of the gross domestic product that received broad support from the caucus. Finally, I intend to introduce legislation that will enact the spending caps contained in my budget proposal. The "Cut, Cap, Balance" pledge consolidates all of these important pieces of legislation into a fiscally responsible path forward."

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