stonewalling on a Federal Budget.
Texas Insider Report: AUSTIN Texas
The government is now borrowing .40 cents of every $1 it spends and thats the road to insolvency. So thats what this Lame Duck Session is supposed to be about solving some of these problems Cong. Lamar Smith tells Insiders Jim Cardle in an Exclusive Interview.
If sequestration goes into effect Texas will be hurt more than most states because of the presence of so many military installations here. Sequestration is a name for automatic cuts in both our defense and non-defense budgets ... To put it in perspective Sequestration will take Defense Spending down to a level not seen since before World War II.
Thats why you have everyone from the Secretary of Defense on down saying we cant afford to have sequestration Smith said.
Cong. Lamar Smith Chairman of the House Judiciary Committee tells Insiders Jim Cardle exactly what might happen the week after the Nov. 6th Election as the Fiscal Cliff approaches.
What were really concerned about and what has lead all of this to occur is the deficit spending that our country has been
engaged in for the last three years said Smith.
Frankly the president promised when he was campaigning for the presidency that he was going to cut the deficit in half and weve now seen it double every year for three years and the projection is that it will do the same again next year for a fourth year.
This year its already been announced were going to be back for two weeks in November and two weeks in December ... Thats how much unfinished business there is Smith said.
The Judiciary Committee which I chair has jurisdiction over the Constitution and therefore over a Balanced Budget Amendment wich we passed two times this year in the House but not by the 2/3rds of the vote necessesary for a Constitutional Amendment Smith said.
And the Senate has not passed a budget for three years despite a 1974 law that requires both the House and the Senate to pass a budget.
The Senate actually brought up the Presidents Budget but not a single Senator Republican or Democrat voted for the Presidents Budget so theyve passed no budget completely contrary to the law. I dont know how they get away with it said Smith.
