Jordan Tapped To Help Lead GOP Budget Cutting Efforts
After proposing over $4 trillion in new federal spending and borrowing over half of next year's proposed budget, President Obama suggested that his administration would be willing to cut 0.0025 percent from federal spending.
Jordan said that such a cut amounted to someone making $50,000 per year, while putting an additional $37,500 on their credit card per year, cutting $2.19 from their annual spending.
"With all due respect, the President's so-called budget cutting efforts have been a joke," Jordan said. "Since taking office a couple of months ago, President Obama and Congress have spent like there is no tomorrow, with their first-year budget deficit on track to be four times higher than the highest previous deficit in American history."
Jordan said that he would propose that the group adopt some of the belt-tightening measures in the balanced budget bill he introduced last month, including a 1% across-the-board cut for non-defense federal agencies for each of the next ten years, and reduction or elimination of over 150 federal programs deemed by the Government Accountability Office to be an ineffective use of taxpayer dollars.
"No nation in history has ever taxed-and-spent its way into prosperity, and if we are going to get our economy back on track, we need to set priorities for our federal government and begin to reduce spending in areas where it is not necessary," Jordan added. "I've been working on this issue since day one, and I am pleased that our legislative leaders have asked me to help develop this vision for America's future."