July 27th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today urged all Republicans to avoid personal criticisms of House Speaker John Boehner:

“Political rhetoric should not be directed at Speaker Boehner, but instead should focus on the deeply flawed legislation that he has offered as a solution to the credit crisis facing our nation. Americans for Limited Government strongly urges House Republicans to vote no on the plan that has been presented on the Speaker’s behalf. The last available information on the plan revealed that it only cut $1 billion in fiscal year 2012.

“Conservatives need to stand together in favor of keeping the spending cut promise of the 2010 election, but should maintain our focus on the legislation and not personalities. Likewise, we hope dissenting conservative voices will continue their vital role in working to protect our nation’s future.”

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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July 27th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement analyzing two “competing” plans offered by the House and Senate to increase the $14.294 trillion debt ceiling:

“The only vital difference between the House and Senate plans is Iraq and Afghanistan. The Senate plan places a cap on spending which includes war spending, and the House plan allows the discretionary spending cap to be adjusted to pay for the war. So, while the House has been saying the Senate uses illusory savings from winding down the theaters in the war, the House plan actually includes provisions to allow those operations to be funded above the spending cap, according to the CBO. Therefore, the savings are not illusory per se.

“If the Iraq/Afghanistan savings were included in the House plan, the two bills would be nearly identical.”

Attachments:

CBO scoring on Reid plan:
http://www.cbo.gov/ftpdocs/123xx/doc12338/SenateBudgetControlAct.pdf

CBO scoring on Boehner plan:
http://www.cbo.gov/ftpdocs/123xx/doc12336/HouseBudgetControlAct.pdf

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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July 26th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today warned that neither the House nor Senate plans raising the $14.294 trillion debt ceiling would avert a credit downgrade by rating agencies:

“Conspicuously missing from both the House and Senate plans to raise the debt ceiling is any assurance that merely cutting $3 trillion in spending will avert a credit downgrade now threatened by rating agencies. Without that assurance, leaders are risking our creditworthiness in order to deliver a political solution to a math problem. Moody’s, S&P, and Fitch have said fiscal consolidation needs to at a minimum cut borrowing by $4 trillion, and neither proposal meets that threshold.

“Washington is getting caught up in meeting Obama’s arbitrary August 2nd deadline for increasing the debt ceiling, and is therefore not focused on putting a proposal on the table that would actually preserve the nation’s Triple-A credit rating. Now, the metric being used is whether a proposal can pass, not whether it is sufficient to set the nation on a fiscally sustainable path.

“A downgrade will crash markets, weaken the dollar, and result in higher interest rates for federal, state, and municipal debt. This in turn will make even greater cuts necessary down the road than are being contemplated now, and make a national default more likely. Higher rates will also hurt the housing market and result in lower home values. With all that can go wrong, one might expect both houses of Congress to be putting proposals forward that most certainly would prevent a downgrade.

“Now it is up to the leadership of both houses to allow amendments to these flawed proposals so that they can be fixed prior to becoming law. We should not wait for a downgrade or worse to begin getting our fiscal house in order.”

Attachments:

“$3 Trillion is Not $4 Trillion,” By ALG Senior Editor Robert Romano, July 26th, 2011 at http://blog.getliberty.org/default.asp?Display=3529 .

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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July 25th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today urged Congress to avert a credit downgrade by enacting legislation that will slash borrowing by trillions:

“A solution is not the same thing as a deal, and today America needs a solution to the debt crisis. S&P has warned that a credit downgrade of the nation’s Triple-A rating is imminent within 90 days if action is not taken to slash borrowing by trillions of dollars. A downgrade will cause interest rates to soar, as annual interest owed rises to over $1.3 trillion by 2021. Soon, the debt will become so large it cannot be refinanced, making a catastrophic default more likely down the road.

“Before that occurs, the House needs to pass a short-term debt ceiling increase with more than double the spending cuts, providing the time needed for a long-term solution to be enacted that adheres to the principles of ‘Cut, Cap, and Balance’. It must also take Obama’s loaded gun — the threat of default — off the table by instructing the Treasury to prioritize the payment of creditors in the event the debt ceiling is reached.

“If Barack Obama chooses to oppose real deficit reduction, let him veto legislation.”

Attachments:

“Obama’s Loaded Gun,” By ALG President Bill Wilson, July 25th, 2011 at http://blog.getliberty.org/default.asp?Display=3525 .

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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July 22nd, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today condemned the Senate for tabling the “Cut, Cap, and Balance Act”:

“The defeat today in Senate of the ‘Cut, Cap, and Balance’ provision to deal with the debt ceiling crisis is a tragedy. We have lost, through this vote, not just the ability of any short term remedy, but the opportunity to put America on a trajectory for fiscal sustainability and a return to sound economic planning and thinking. Today is going to be marked, frankly, as a tragic day in American history. This is the day when the Senate went on record wanting to see America expand its debt, which will inevitably lead to the collapse of the dollar and the collapse of the U.S. economy.

“Credit rating agencies Moody’s and S&P have warned if a fiscal consolidation plan of at least $4 trillion is not put in place now, our Triple-A credit rating will be revoked. That will crash markets all over the world, mean higher interest payments, which already total in the hundreds of billions every year, and make the size of budget cuts needed even larger in the future. Washington simply is not taking this threat seriously. ‘Cut, Cap, and Balance’ is the only proposal on the table that can deal with this threat in a timely and effective manner, saving $5.8 trillion in the next ten years and balancing the budget.

“Senators who profess to support a Balanced Budget Amendment and who voted no on ‘Cut, Cap, and Balance’ have, through their deceit, tabled the one proposal that can prevent a downgrade. They are guaranteeing that their own states, which too will be affected by a Treasury downgrade, will have to make even higher interest payments on municipal debt. By fighting budget cuts in Washington, senators are guaranteeing bigger budget cuts at home down the road.

“When the nation is downgraded, and markets crash, the American people now have someone to blame: Those senators that refused to take the opportunity presented by ‘Cut, Cap, and Balance’ to restore order to the nation’s fiscal house.”

Attachments:

“Credit Downgrade Would Drag Blue States into Abyss,” By ALG President Bill Wilson, July 22nd, 2011 athttp://netrightdaily.com/2011/07/credit-downgrade-would-drag-blue-states-into-abyss/

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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July 21st, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today urged the U.S. Senate to reject a $3.1 trillion tax increase proposed by the so-called “Gang of Six”:

“The ‘Gang of Six’ proposal will increase taxes on job creators to the tune of $3.1 trillion, precisely the last thing this weak economy needs to get moving again and create jobs. House Speaker John Boehner expressly rejected any tax increase in exchange for a debt ceiling vote, making the ‘Gang of Six’ proposal dead on arrival in the House. The Senate should not even waste its time.

“Senators should instead vote for the only proposal on the table that balances the budget, avoids a credit downgrade, and does not include tax increases, meanwhile saving $5.8 trillion over the next ten years, and that is the ‘Cut, Cap, and Balance Act’.”

Attachments:

“Gang of Six Plan: A $3.1 Trillion Tax Hike,” Investor’s Business Daily, July 20th, 2011 athttp://www.investors.com/NewsAndAnalysis/Article/578924/201107201854/Gang-Of-Six-Plan-DC-At-Its-Worst.htm

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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July 20th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today blasted a non-binding proposal in the Senate as insufficient to meet the nation’s debt crisis:

“Senator Tom Coburn, a member of the ‘Gang of Six,’ has admitted that the bill, if all of its $3.7 trillion in savings over ten years were even realized, would only represent 40 percent of the solution to restoring order to the nation’s fiscal house. Coburn said even if enacted, Congress is ‘going to have to change it because this is just 40 percent of the way.’ Only 40 percent of a solution is no solution at all, it is accepting failure when there is no margin for error.

“Moody’s has already warned that the McConnell plan, which only vaguely promises $1.5 trillion in savings, would not prevent a downgrade, as it falls short of its recommended minimum consolidation of $4 trillion over ten years. It is likely the ‘Gang of Six’ plan will not avoid a downgrade either, because it defers much of its work to congressional committees, putting off the date any cuts would even be voted on. In order to reassure credit markets, Congress needs to make big cuts now and put the nation on the path to a balanced budget — before Washington turns into Athens.

“To his credit, Senator Coburn has offered a real program that cuts borrowing by $9 trillion over ten years, and is a brilliant piece of work. But even he acknowledges that he only has but a handful of supporters.

“That means the Senate has but one credible option in front of it, it is the bipartisan ‘Cut, Cap, and Balance’ plan that will cut borrowing by $5.8 trillion over ten years and send a Balanced Budget Amendment to the states. Any plan that contemplates less savings, defers the hard work to back-room ‘commissions’ and stacked committees, and fails to balance the budget should not even merit consideration. S&P has given us 90 days to avert a downgrade, meaning we need to act now, not kick the can down the road again.

“Every single Republican senator is a cosponsor of the Balanced Budget Amendment. So, they should get behind the one bill, ‘Cut, Cap, and Balance,’ that would force a vote on it, sending it to states for ratification. Congress needs to act before the debt becomes so large it cannot possibly be paid back. This is a ticking time bomb that we are running out of time to disarm.”

Attachments:

“Harry’s Problem,” By ALG Senior Editor Robert Romano, July 20th, 2011 at http://netrightdaily.com/2011/07/harry-reids-debt-ceiling-problem/

“‘Cut, Cap, and Balance’ or Bust,” By ALG President Bill Wilson, July 19th, 2011 at http://netrightdaily.com/2011/07/cut-cap-and-balance-or-bust/

ALG Letter to Members of Congress, July 14th, 2011 at www.getliberty.org/files/LetterCutCapBalance7-14-11.pdf

“The New Danger to U.S. Independence,” by ALG President Bill Wilson, June 30th, 2011. http://blog.getliberty.org/default.asp?display=3463

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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July 19th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today praised the U.S House of Representatives for passing the “Cut, Cap, and Balance Act” and urged immediate action by the Senate to ensure passage:

“The House of Representatives has done its job. It has passed a debt ceiling increase that meets the short, medium and long term goals set out by financial institutions like Standard & Poor’s to insure our nation’s solvency and our Triple-A credit rating.

“Now, it is up to Harry Reid to start acting like an adult and put petty politics aside by passing the House bill through the Senate. ‘Cut, Cap, and Balance’ will save about $5.8 trillion over the next decade. Any plan from the Senate should save at least that much. Failure to act on the only responsible approach that has been proposed to solve our nation’s debt crisis would be catastrophic to our nation’s economic future.”

Attachments:

“Cut, Cap, and Balance” or Bust, By ALG President Bill Wilson, July 19th, 2011 at http://netrightdaily.com/2011/07/cut-cap-and-balance-or-bust/

ALG Letter to Members of Congress, July 14th, 2011 at www.getliberty.org/files/LetterCutCapBalance7-14-11.pdf

“The New Danger to U.S. Independence,” by ALG President Bill Wilson, June 30th, 2011. http://blog.getliberty.org/default.asp?display=3463

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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July 15th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today thanked House Speaker John Boehner for allowing a vote next week on the “Cut, Cap, and Balance Act,” urging the House to pass it and send it to the Senate:

“Next week, the U.S. House of Representatives will decide whether or not to responsibly tackle the debt crisis through real cuts that will preserve the nation’s creditworthiness for the future. The alternative McConnell-Obama plan sidesteps the issue and postpones the day of reckoning. Congress cannot afford to kick the can one time.

“Americans for Limited Government thanks House Speaker for John Boehner for allowing this vote, which may be the nation’s last hope to turn the Ship of State around.

“The ‘Cut, Cap, and Balance’ plan is the only legitimate option to address the nation’s long-term fiscal crisis, when soon the debt will become so large it cannot possibly be repaid. Americans for Limited Government strongly urges passage, and will rate members accordingly who profess to be fiscally responsible but cave under pressure when it comes time to cut up Barack Obama’s maxed-out credit card.”

Attachments:

ALG Letter to Members of Congress, July 14th, 2011 at www.getliberty.org/files/LetterCutCapBalance7-14-11.pdf

“The New Danger to U.S. Independence,” by ALG President Bill Wilson, June 30th, 2011, http://blog.getliberty.org/default.asp?display=3463

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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July 14th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today released the following statement on the debt ceiling increase and the Cut, Cap and Balance legislation:

“House Speaker John Boehner has a historic chance to take back control over the debt ceiling debate today by joining with his House Republican colleagues in tying any increase in the debt ceiling to passage of cut, cap and balance legislation.

“Cut, cap and balance would cut the existing budget, cap future budget expenditures and move the ball forward in getting a balanced budget amendment through Congress. Failure by Speaker Boehner to pass substantive systemic budget cuts in exchange for any increase in the debt ceiling would be a breach of faith with the American people who entrusted the House of Representatives to his leadership in the historic landslide elections just nine months ago.

“Now, Speaker Boehner needs to move forward and pass the cut, cap and balance legislation through the House, and force the Democratic controlled Senate to confront this issue. The time is now for Speaker Boehner to lead rather than try to make backroom deals with a President who would rather throw the country into default than deal with the spending problems that he, himself, largely created.”

Attachments:

ALG Letter to Members of Congress, July 14th, 2011 at www.getliberty.org/files/LetterCutCapBalance7-14-11.pdf

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

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