Posey: Debt Limit Plan Puts the Brakes on Out-of-Control Spending, Tackles Inflation, and Grows Our Economy
Washington, April 26, 2023
Congressman Bill Posey (R-Rockledge) released the following statement in support of H.R. 2811, the Limit, Save, Grow Act:
“Restoring fiscal sanity and budget discipline was what led me to Congress. Our nation is deep in debt and plummeting deeper into the red every day. With the national debt now at a staggering $31.6 trillion, and the budget deficit at $1.4 trillion, for too long Washington has spent far beyond its means. Biden’s ‘blank check’ debt limit plan is a path to national bankruptcy, and it must be defeated.
“The Limit, Save, Grow Act is a good step toward turning this ship around. It puts the brakes on government debt and out-of-control spending while growing our economy, putting Americans back to work and preserving the American dream for our children and grandchildren. The plan tackles inflation by drastically controlling future spending increases, unleashes American energy independence to reduce costs, ends our dependence on China, and takes historic steps to limit red tape and job-killing regulations.
“The plan also claws back tens of billions in unused COVID pandemic funds, eliminates $80 billion in new spending to hire 87,000 IRS agents, saves hundreds of billions by canceling “green new deal” credits and subsidies that distort the markets and benefit Chinese companies, and stops the half-a-billion-dollar college loan giveaway program. This plan will save taxpayers over $1 trillion next year and at least $4.5 trillion over the next 10 years.”