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.

###

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.

###

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.

###

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.

###

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.

###

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.

###

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.

###

July 14th, 2011, Fairfax, VA—Senate Majority Leader Harry Reid attacked House Majority Leader Eric Cantor today in his typical unprofessional demeanor. Reid, who has made a career of petulant and child-like behavior, has only contributed to the debate on our nation’s economic future by resorting to playground taunts.

Americans for Limited Government President Bill Wilson noted that Reid has a history of lashing out and attacking anyone who doesn’t agree with him, “Harry Reid is the typical playground bully, thrashing around demanding his way, and when someone like Eric Cantor stands up to him, his only reaction is to call names and make snide remarks.”

Below is the official Americans for Limited Government list of childish Harry Reid actions or remarks:

1. To a Las Vegas Review-Journal executive, “I hope you go out of business.” (August, 2009)
2. He bemoaned to the media that, “you could literally smell the tourists coming into the Capitol.”
3. In 2005, he challenged Republicans to, “Go behind the pool hall and see who wins this one.”
4. At a fundraiser, he referred to new Senator Kristen Gillibrand as the “hottest” member of the Senate.

Wilson noted that the U.S. Senate, under Harry Reid’s leadership, has failed to pass a budget in almost 800 days stating, “Perhaps Harry Reid should spend more time doing his job and less time worrying about others who are actually doing theirs. I guess when you have so few accomplishments to show it is natural to lash out at those who are actively struggling to fix the economic disaster that Reid and his Democratic colleagues have created.”

If you think Reid’s comments are bad, here are just a few of Mr. Reid’s accomplishments since he became Senate Majority Leader:

• The unemployment rate has doubled from January 2007 when it was 4.6%. Now it is 9.2%.
• Inflation was at an annual rate of 1.8% in January 2007, today it is running at an annual rate of 3.6%.
• A gallon of gasoline cost $2.18 a gallon, now it is more than $3.50 a gallon.
• The national debt was $8.67 trillion, now Reid is avoiding dealing with raising a debt ceiling that is $14.3 trillion.

After a review of Reid’s time as Majority Leader one thing is clear, when Harry Reid wishes somebody would go out of business, you need to take him seriously.

ALG Editor’s Note: After publication, it was discovered that the one of the links in the original release was fake.  ALG removed this link immediately upon our discovery that it was not valid.  This release has been edited as a result.

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

July 13th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today released the following statement urging the House to pass a bill cutting hundreds of billions out of the 2012 budget attached to increasing the debt ceiling:

“The House needs to do its job, pass an increase in the debt ceiling attached with hundreds of billions of immediate cuts to the 2012 budget, and send it to the Senate. Then, if there needs to be anyone to blame, it will be Harry Reid if he doesn’t pass a bill in the Senate, or Obama if he refuses to sign the bill that ultimately passes. But Republicans need to keep their word and attach big spending cuts to the debt ceiling increase — and pass it.

“Let’s face it. The debt ceiling negotiations have failed. The Obama Administration continues to ask Congress for a blank check from the American people to spend trillions of dollars we don’t have. Obama wants tax hikes to service a debt so large it cannot possibly be repaid, crippling an already-beleaguered economy, and getting us no closer to fiscal normalcy.

“Republicans have negotiated in good faith, but now is the time to take a stand. The only way forward is to cut hundreds of billions of dollars out of the 2012 budget, saving trillions of dollars and balancing the budget by the end of this decade. If they act immediately on behalf of the American people, they can save the nation from a catastrophic default in the coming years and prevent Washington from becoming Athens.

“We need to cut spending now. The Ryan budget plan that passed the House will not accomplish a balanced budget for 26 years. We don’t have 26 years to get our fiscal house in order. Within days of the House passing the well-intentioned Ryan plan, S&P downgraded its outlook on U.S. debt from stable to negative. Soon thereafter, Moody’s threatened to do the same. The Social Security and Medicare trustees then reported that the trust funds will be exhausted much sooner than they thought just a year ago. And the debt will still rise to $26 trillion by 2021, with annual gross interest payments well over $1 trillion by then as interest rates return to their historic norm of 5 percent.

“In light of these new facts, Republicans have every reason in the world to be more aggressive. If they capitulate now, they will be surrendering any credibility they have left on this issue. They need to take a stand, and surely the American people will stand with them.”

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

###

July 12th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today released the following statement on a Senate Republican proposal to give the White House singular authority to raise the debt ceiling without congressional approval:

“Under the Senate Republican proposal, Congress would cede its constitutional power to borrow on the full faith and credit of the U.S. in deference to the Executive Branch. All of this, apparently, to solve a short-term political problem for Republicans seeking to avoid blame for a failure to pass an increase in the $14.294 trillion debt ceiling.

“This abdication of responsibility is puzzling to say the least. When spending is this out of control, and the only thing keeping it in check is the congressionally authorized debt ceiling, why would Congress cede its say on the nation’s finances?

“If Republicans give sole power to raise the debt ceiling to Barack Obama, it will be a colossal failure of this Congress.”

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

###