Frank Guinta put out a press release yesterday that crowed about how his vote for the three-week continuing resolution "cut spending" significently. Uh…no it didn’t. It didn’t cut ANYTHING. This from RedState.com:
A Note to House Republicans Patting Themselves On the Back
There are House Republicans patting themselves on the back today for passing a three week continuing resolution that “cuts” $6 billion in spending, largely by stopping earmarks not already spent.
According to the Politico, Rep. Steve Stivers (R-OH), Mike Simpson (R-ID), Kevin McCarthy (R-CA), and others are bristling over conservative opposition to the short term spending resolution. That opposition, by the way, was because the spending cuts were not enough.
The Weekly Standard reports today that as of today the federal government’s mandatory spending exceeds all federal revenue. We’ve reached that point, by the way, fifty years ahead of schedule.
But beyond that, I hope John Boehner, Eric Cantor, Kevin McCarthy, Jeb Hensarling, and the rest of the House Leadership and those Republicans who supported the 3 week continuing resolution “cutting” $6 billion realize this:
The daily amount of interest we will accrue on our national debt is greater than the $6 billion saved over three weeks. In other words, these cuts have done nothing to save us any money.