Washington, DC- Ranking Member, Norm Dicks gave the following statement on H.J. Res. 48, a short-term continuing resolution that provides funding for the Government through April 8th, 2011:
“Thank you, Mr. Speaker. Today the House is considering the fifth continuing resolution to keep the federal government running. Here we are, in the middle of March, considering yet another short-term bill that is supposed to buy us time to negotiate funding for the remainder of the fiscal year.
“The extension reduces spending in FY 2011 by $45 billion below the President’s request. It adds another $6 billion in “common ground" spending reductions; in total, the measure cuts $51 billion below the President’s request.
“The idea behind the three-week extension is to provide an opportunity for the House, Senate and White House to settle all outstanding issues on fiscal year 2011 appropriations. I remain hopeful that negotiations will succeed and we will be able to give our agencies some amount of certainty for what little remains of fiscal year 2011.
“But I must remind my colleagues that if this CR extended for the remainder of the year, we would be cutting spending at historic levels, $51 billion below the President’s request. I am wary that cutting deeper will threaten a fragile economic recovery. Most economists see cuts in H.R. 1 as a drag on economic growth leading to the loss of hundreds of thousands of jobs, as Fed Chairman Bernanke projects. Moody’s Analytics estimates 400,000 jobs lost for the remainder of this year and 700,000 more next year if H.R. 1 is enacted. Goldman Sachs thinks it could be as high as 2.4 million jobs lost.
“I am relieved that Chairman Rogers crafted a package that relies on previously identified reductions, a significant portion of which were old earmarks. And while I know my colleagues will not agree with, and may not be able to support, some of the specific program cuts included in this package, I appreciate that there was a genuine attempt to engage the Senate and the White House before they were chosen.
“Most importantly, I am tremendously relieved the Chairman has stayed away from controversial riders in this stop-gap measure. He knows, as I do, that those riders would almost guarantee a veto by the administration, which would almost guarantee a government shut-down. An appropriations bill is not the place to decide enormously complex and controversial policy issues.
“I am not pleased to be here today with yet another short-term bill. I sincerely hope that we use this time judiciously so the next time we consider a bill for fiscal year 2011, it is the last."
Source: U.S. Department of HCA
