Prioritize Spending Act | Council For Citizens Against Government Waste

Prioritize Spending Act

August 2, 2012

U.S. House of Representatives
Washington, D.C. 20515

Dear Representative,

Rep. Daniel Webster (R-Fla.) has introduced H.R. 2402, the Prioritize Spending Act, which would require the Treasury to make interest payments on the debt its first priority in the event that the debt ceiling is not raised. On behalf of the more than one million members and supporters of the Council for Citizens Against Government Waste (CCAGW), I urge you to support this legislation.

As high levels of federal spending persist, the nation is on pace to reach its statutory $16.4 trillion debt limit before the end of the year. The debates that occurred last year over whether or not to raise the debt ceiling and the scare tactics that were employed to compel members to vote for another increase or experience “catastrophic economic consequences” should not be repeated. These threats of defaulting on the national debt have no merit and should be taken off the table.

If Congress refuses to raise the debt ceiling, the federal government will still have more than enough money to avoid a default and service the national debt. The Prioritize Spending Act would ensure that the nation makes good on its debt obligations first and foremost.

Should the debt ceiling be reached, H.R. 2402 would prioritize the government’s obligations in the following order: principal and interest on the U.S. debt; payment to military service members; vital national security priorities; Social Security; Medicare.

If the debt ceiling is not raised, the nation can avoid debt default, but it will not be able to escape the drastic spending cuts necessary to fill the budget hole. CCAGW urges all members of Congress to work toward making important spending cuts now, and to insist that any increase in the nation’s debt limit be subject to substantial budget reductions.

The federal government has a responsibility to fulfill its moral and financial obligations to its debt holders and to its taxpayers. I strongly urge you to support the Prioritize Spending Act. All votes on H.R. 2402 will be among those considered in CCAGW’s 2012 Congressional Ratings.

Sincerely,

Tom Schatz
President, CCAGW

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