Freedom Caucus budget proposal draws a line in the sand

House Freedom Caucus Chairman Scott Perry holds a press conference on March 10.

March 10, 2023 | Washington, D.C.

On March 10, the fiscal fight began with the Freedom Caucus putting forth a budget proposal designed to draw a line in the sand on the atrocious spending under the Biden Administration.

Did you know that our current debt is $31 trillion? Biden’s budget proposals would bring that to $51 trillion. We’re not talking deficit, but debt that equates to 110 percent of our GDP. We would owe more than our entire economy can generate in a year.

Those are catastrophic numbers. So, while many in D.C. are sounding alarms that we will default on our debt if the debt ceiling is not raised, they refuse to discuss the potential for bankruptcy from continuing to ratchet up the spending.

The Freedom Caucus proposal would cap overall discretionary spending at fiscal 2022 levels for 10 years while allowing for 1 percent growth per year, which would be a $131 billion cut from current levels. The group would aim to keep defense spending at current levels.

Additionally, it would end President Biden’s student loan forgiveness program; rescind unspent COVID-19 and Inflation Reduction Act funds; enact the REINS Act, a bill that would broaden congressional input on agency regulations; and loosen domestic energy production regulations; restore “Clinton-era work requirements on welfare programs” and pass a preemptive continuing resolution to set nondefense discretionary spending at fiscal 2019 levels in order to pressure Congress to pass appropriations.

Freedom Caucus Chairman Scott Perry led a press conference on March 10 in which he also called for ending Biden’s student debt relief plan.

“This current debt crisis has been created by reckless Democrat policies and out-of-control spending,” said Perry. “However, we will not default on our debts unless President Biden chooses to do so…the House Freedom Caucus is offering a responsible solution to this self-imposed crisis.”

Senator Cruz weighs in

While appearing on Hannity, Senator Ted Cruz noted that the initiatives outlined in the Biden Administration’s proposed budget indicate “socialists are in charge of the White House. Biden certainly isn’t.”

WATCH: Ted Cruz says new budget proposal reveals “socialists are in charge of the White House”