Gregory Congressional Reform Plan

STAMFORD, Conn., Jan. 21 /PRNewswire-USNewswire/ -- Over the past decade, the American people have witnessed few examples of bipartisanship.  Unfortunately, one point on which Congressional Republicans and Democrats agree is spending—the more the merrier.

From 2001 to 2008—the years of the George W. Bush administration—the national debt increased from $5.6 trillion to $10.7 trillion.  The ascension of President Obama has only exacerbated the country's extravagant spending habits, and familiar faces in Congress continue to pass laws calling for increased spending.  Most estimates suggest that the debt will soon rise to 100 percent of GDP—the highest percentage since World War II.

Although the current national debt of $12 trillion may seem like imaginary money to our members of Congress, the problems it causes are very real.  Interest payments on our debt account for approximately 10 percent of national spending, making debt the fourth largest expenditure behind only defense, social security, and Medicare.  Every year, dollars that could be invested in education, economic development, national security, or alternative fuel research are instead sunk into paying for Congressional profligacy.  

The national debt also compromises America's international position. China currently holds $800 billion worth of United States Treasury Securities.  This puts us in a position of weakness in negotiations with China.  How can we pressure China on human rights and Iranian nuclear sanctions when we must turn to them the very next day with our hands out, asking for more money?

But most importantly, the national debt threatens the long-standing economic vibrancy of the United States.  Eventually, it must be paid, and to do this the government will either have to print more money, thereby causing inflation, or increase taxes.  Both options have a proven detrimental effect on economic growth.

In short, the fiscal irresponsibility of Congress is jeopardizing the future of the United States.  If Congress is not stopped, we may no longer be the country of limitless economic opportunity and international strength.  

Will Gregory appreciates the gravity of the situation, and he knows that measures must be implemented immediately to reverse the tide.  If elected, Mr. Gregory will:

1. Propose a Balanced Budget Amendment similar to the nearly-passed amendment proposed in 1982.  This amendment will require that federal government expenditures not exceed federal government revenue unless the country is in a state of war or unless the budget is approved by a supermajority of Congress.  This amendment will require Congress to closely analyze all legislation for extraneous expenses, forcing Congress to return to its Constitutionally limited role.
2. Call for greater transparency on governmental spending.  If the American public knew about the $1.9 million allocated for the Pleasure Beach water taxi service in Connecticut (2009), or the $254,000 given to the Montana Sheep Institute (2009), would it approve?  Will Gregory feels that such expenditures are wasteful spending binges, especially when they are bought at the expense of future American generations.  Sunlight is the best disinfectant for such extravagance.
3. Halt the rapid growth of governmental entitlement programs.  These programs cannot immediately be cut—too many Americans count on the hard-earned money they have put into these safety nets—but action must be taken now to prevent future insolvency.

Every day, Americans make sacrifices to ensure home budgets are balanced.  Will Gregory believes that it is time for Congress to live within its means.  We must reign in out-of-control government and take back the future of our country.  

Over the next week, Will Gregory will release details on his three points for controlling government spending thereby returning America's future to the people.  

www.gregoryforcongress.com

SOURCE Will Gregory for Congress