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Tea Party Debt Reduction Commission to Present Findings


Conventional wisdom holds that the Joint Select Committee on Deficit Reduction, often referred to simply as the Supercommittee, is the sole entity working on a plan to reduce America's deficit. That committee, created by the Budget Control Act of 2011, has until November 23, a week from today, to identify a means to cut the nation's deficit by at least $1.5 trillion over the next decade. The Supercommittee is comprised of 12 bipartisan members of Congress: U.S. Senators Max Baucus (D-MT), John Kerry (D-MA), Jon Kyl (R-AZ), Patty Murray (D-WA), Rob Portman (R-OR) and Pat Toomey (R-PA) and U.S. Representatives Xavier Becarra (D-CA), Dave Camp (R-MI), Jim Clyburn (D-SC), Jeb Hensarling (R-TX), Fred Upton (R-MI) and Chris Van Hollen (D-MD).

Some speculation holds that the committee may go big, identifying up to $3.7 trillion worth of deficit reductions. But should the committee fail to reach a consensus on at least $1.5 trillion of cuts, an automated plan will kick into place to cut the deficit, including deep cuts to the nation's defense budget that many believe could prove threatening to the nation's security.

Less known is the fact that this committee is not the only one at work on a deficit reduction plan. The Tea Party Debt Reduction Commission will present its findings this Thursday, and it will include a plan to balance the federal budget in less than a decade, reduce federal spending to 18 percent of gross domestic product (GDP), reduce the national debt to at least 66 percent of GDP, and reduce federal spending by at least $9 trillion over the next decade — all without raising taxes. Like the Supercommittee, the Tea Party Debt Reduction Commission consists of 12 members, including tea party leaders from Colorado, Connecticut, Indiana, Nevada, New Hampshire, New York, Pennsylvania, Utah, and Virginia.

In presenting its recommendations, the Tea Party Debt Reduction Commission drew on the input of multiple public hearings around the nation and online voting by tea party activists on federal spending cut priorities. In a press release issued Monday, the Tea Party Debt Reduction Commission said its findings "will serve as the tea party's response to the super-committee's likely disappointing findings, and negate the establishment narrative that tea partiers can't identify specific cuts to the budget. Tea party leaders around the country know that Washington can do better, and plan to release materials documenting exactly what cuts can -and should- be made to preserve America's economic future."

The tea party recommendations have been facilitated by the grassroots conservative organization FreedomWorks. Its president Matt Kibbe said that the tea party recommendations will "show Washington that there is a strong, grassroots constituency to support bold budgetary reform." The tea party committee's recommendations will be presented Thursday at 2pm in Room 325 of the Russell Senate Office Building in Washington, D.C. The public can follow the tea party recommendations on Twitter by following hashtag #TPDC.

 
Posted by TPI editor on 11/17/2011 10:55:37 AM
Filed under: debt, party, reduction, tea, committee


 
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