Spending Cuts and Debt
"The federal deficit for Fiscal Year 2011 is on a path to reach $1.48 trillion, borrowing 41 cents of every dollar Congress spends."
House Republicans aim to put the federal government on a path to a balanced budget and pay down the debt. Congress can reach this goal by acting immediately to reduce spending, cutting government spending to Fiscal Year 2008’s pre-stimulus, pre-bailout levels and establishing a hard cap on new discretionary spending.