House Passes Cut, Cap, And Balance
Take that, Obama:
The House of Representatives has approved the GOP’s ‘Cut, Cap and Balance’ plan with a vote of 234 to 190.
The bill imposes caps on federal spending as a percentage of GDP. It also allows for an increase in the debt ceiling by $2.4 trillion in exchange for both the Senate and House approving a balanced budget amendment.
House Speaker John Boehner played a muted role in public during the day, but later applauded the passage of the plan.
“House Republicans are the only ones to put forward and pass a real plan that will create a better environment for private-sector job growth by stopping Washington from spending money it doesn’t have and preventing tax hikes on families and small businesses,” he said in a statement. “The White House hasn’t said what it will cut.
But nine Republicans voted no on the plan, including Rep. Michele Bachmann, R-Minn. and Rep. Ron Paul, R-Texas. Five Democrats sided with Republicans.
Obama has already said that he’ll veto it, but that would be a political loser. He’d be standing in the way of a clear way of putting the government’s finances back in order. Unfortunately, Bachmann’s no vote gives him a little political cover, as he can argue that even Tea Party favorite Bachmann didn’t think it was a good plan.
In any event, it’s a bold positive move forward by the GOP, and Obama–as usual–is left sitting on the sidelines as the adults get things done.