ATLANTA – Georgia’s two senators announced new legislation aimed at reining in deficit spending.
As part of the Honest Expenditure Limitation Program (HELP) Act of 2010, all “non-security” discretionary spending would be frozen at 2008 levels. The move, according to senators, would net a $900 billion savings over the next decade, an estimated $634 billion more than a similar concept that President announced.
“Balancing the federal budget is an obligation that those of us in Washington owe to future generations of Americans, and this legislation takes immediate steps to stop out-of-control federal spending,” Sen. Johnny Isakson said in a statement. “Congress continues to spend money at an alarming and unsustainable rate, and it is a recipe for disaster and failure.”
Under the senators’ plan, the freeze would be phased in between fiscal year 2011 and fiscal year 2015.
“The American people continue to demand that Congress address the government’s rising deficit,” Sen. Saxby Chambliss said in a release. “Congress should not continue on the path of saddling our children and grandchildren with insurmountable debt – it’s just wrong. This legislation represents a step in the right direction toward getting government spending to a level that is sustainable.”