Save the Spending Caps!
UPDATE: GOP leadership and President Obama have agreed on a budget deal to spend $80 billion above the spending caps and raise the debt limit by $1.5 trillion. The bill is paid for by selling oil from the Strategic Petroleum Reserve and imposing spending caps a decade from now even as they are being broken today. Our action letter is updated to oppose the deal.
President Obama is threatening to shut down the government (we think he's bluffing!) in order to renege on the Budget Control Act, the historic agreement capping discretionary spending that both parties agreed to and President Obama himself signed in 2011, and return to irresponsible, runaway federal spending.
Senate Democrats are filibustering all of the appropriations bills, blocking funding for our troops and veterans, to demand higher nondefense spending.
It would be tragic for the country if Democrats succeed because the Budget Control Act caps are working, dropping government spending as a percentage of GDP from an Obama-stimulus-driven peak of 24.4 percent to a more historically normal – but still too high – 20.3 percent.
Now is a time to advance, not retreat, on spending restraint because rapidly growing entitlements are set to swamp this improvement in discretionary spending.
TELL CONGRESS: SAVE THE SPENDING CAPS!