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Monday, July 18, 2011

Obama Threatens To Veto Cut, Cap, Balance Act

Via The Daily Caller we see that Barack Obama has said he will veto the Cut, Cap and Balance Act that the House of Representatives will be voting on. It is not likely to make it through the Senate but if it did reach his desk, Obama will veto it.

Obama is not interested in cutting spending, capping it or balancing the budget and forcing politicians to stop spending more money than the country has.

If a Cut, Cap, Balance Bill were to reach the Oval Office, the President would veto it, the Obama Administration announced Monday. In a Statement of Administration Policy, the Office of Management and Budget formalized what comes as no surprise – the White House “strongly opposes” H.R.2560.

More about the Cut, Cap and Balance Act

Speaker of the House John Boehner and Majority Leader Eric Cantor announced last week the House was set to act on the Cut, Cap, Balance Act. The bill, which dies the debt limit vote to spending cuts and caps and a balanced budget amendment, would cut spending by $111 billion in FY2012. And in 2012, spending would be scaled back to 22.5 percent of GDP.

Despite all Obama's rhetoric to the contrary, he has no desire to rein in uncontrolled government spending. He has no desire to lower our deficit.

This latest veto threat proves it.