GOP Attempts Historic $2.5 Trillion Cut in Federal Spending

Thursday, 20 Jan 2011 02:30 PM
By David A. Patten

Buoyed by their successful vote to repeal healthcare reform, conservative House Republicans on Thursday rolled out plans for a massive, $2.5 trillion cut in federal spending over the next 10 years.


Rep. Jim Jordan, R-Ohio

The proposal, to be contained in the Spending Reduction Act of 2011, would reset non-security discretionary spending to 2008 levels, affecting everything from state stimulus money to federal involvement in mortgage giants Fannie Mae and Freddie Mac, to foreign aid, education, transportation, scientific research and over 100 other federal programs.

“Whether Americans realize it or not, we are all running together in a race against time. Unless Washington takes swift action to cut spending, we will chain our children to debt and rob them of the opportunity to reach for the American Dream,â€