Reining In Runaway Government Spending

Posted by: Staff in Fiscal Responsibility on Print 

Senator Hatch introduced legislation today to put the brakes to the runaway growth in government spending -- 22% in just two years.

The Limitation on Government Spending Act of 2009 would limit government spending to 20% of GDP (Gross Domestic Product -- essentially the size of the U.S. economy).

 Senator Hatch discusses the bill:

At a time when Utahns and Americans are tightening their wallets, this budget grows the size of government, excluding nondefense-related spending in just two years by 22 percent.

Many Americans, as demonstrated last week through TEA parties, are asking if this government spending will ever stop. After trillions for bailouts and other government spending, this budget makes no hard choices to reform runaway spending.

...

It is time that we restrict government spending. It will cause us to make some tough decisions about what is really important. One thing is certain, we cannot continue down the path we are headed. We owe it to our children and grandchildren to change course and get back on the path to fiscal sanity.

Read more of Senator Hatch's speech.

Orrin PAC has more on the ongoing impact of President Obama's spending plan on deficits and national debt.

Updated: Watch this video of Senator Hatch introducing the Limitation on Government Spending Act.