Rep. Connolly Says Federal Spending 'Too High'--Then Says 'Raise Revenue'
(CNSNews.com) – Rep. Gerry Connolly (D-Va.) said that the current level of federal spending is “too high” and urged Congress to “raise revenue” and “lower spending” simultaneously.
“Where are we in the United States. Right now, we’re spending 25 percent of the entire economy in the federal budget – 25 percent – that’s about as high as its ever been; it’s too high. We must reduce spending,” said Connolly during a town hall meeting at Greenspring Retirement Community in Springfield, Virginia.“Revenue is at an all time low, virtually, it’s at 15 percent, it’s too low. You can’t have 25 percent spending and 15 percent revenue. You have to raise revenue and lower spending so that you are better and balanced,” he said.
The White House and Congressional leaders have been unable to reach a deal to increase the debt limit. President Obama supports a deficit reduction package that raises revenue through tax increases while Republican Congressional leaders vow to cut spending but not raise taxes.