‘Cut, Cap and Balance’ Plan Passed by House

FoxNews

The House of Representatives has approved the GOP’s  ‘Cut, Cap and Balance’ plan with a vote of 234 to 190.

The bill imposes caps on federal spending as a  percentage of GDP. It also allows for an increase in the debt ceiling by $2.4  trillion in exchange for both the Senate and House approving  a balanced budget amendment.

Nine Republicans voted no on the plan, including  Rep. Michele  Bachmann (R-MN). Five Democrats sided with Republicans.

House Republicans insisted on their own approach —  despite Obama’s veto threat and widespread predictions the measure approved  Tuesday night would die in the Senate.

“Our bloated and obese federal budget needs a  healthy and balanced diet, one that trims the fat of overspending and grows the  muscle of our nation’s economy,” said Rep. Reid Ribble of Wisconsin, one of the  87 first-term House Republicans determined to reduce the size of government.

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