This morning, the Heritage Foundation highlighted an informative study from the Centre for Policy Studies that articulates the benefits of smaller governments as opposed to larger bloated governments. The study defines small government as advanced nations with less than 40% of their GDP in government spending and taxation, as opposed to big governments with more than 40% of their GDP in government spending. This two-minute video sums up their studies in a great way: 

I have always believed a smaller government is a better and more efficient model. The study confirms that small governments have faster economic growth due to lower taxes, encourage enterprise risk taking, and improve productivity. Over the last few years I have fought hard to ensure that we have a smaller government. I have consistently voted against all stimulus and bailouts and supported the Balanced Budget Amendment. Read more about my work on small government here.

I want to share this video with you from the House Committee on Oversight and Government Reform today. Veteran truck driver Doug Grove, safety director at San Bernardino, CA based Western HiWays, explains how burdensome federal government regulations don’t align with the realities of the road.

Watch the video here or click the image below.

Read about my recent work to address regulations here.

Also, weigh in with your thoughts on regulations in my instaPoll that asks “Have federal regulations inhibited economic recovery and job creation?” Take the poll here.

I believe one of the first steps we must take to turn our nation’s fiscal course is to quit spending money we do not have and fix the broken budget process.  The American people need to know that they have a fact-based, honest budget, and that leaders in Washington are making every effort to expedite spending cuts. I recently supported two bills that would bring us closer to that end.

Reform the Budget Process. I supported the Budget and Accounting Transparency Act, H.R. 3581. This would bring government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac on-budget and require consideration of the market risk when calculating the cost of federal loans and guarantees.  Read more here.

This bill passed the House by a vote of 245-180.

Expedite Consideration of Spending Cuts. I supported H.R.3521, to provide for an expedited process for spending cuts in which the President can submit to Congress proposed discretionary spending cuts from appropriations bills.  The President cannot unilaterally veto funding; this bill simply allows the President to propose a rescission, and for that proposal to receive expedited consideration in Congress. It would be voted on by the House and Senate and would have to be signed by the President to become law. Read more here.

This bill passed the House by a vote of 254-173.

Read more about my work to cut spending here.

Check out this 50-second video from the House Financial Services Committee revealing the simple truth about Washington regulations and jobs:

On Saturday, a new bank regulation known as the Durbin Amendment takes effect across the country. The regulation caps the fees that banks can collect from merchants when customers use their debit cards. However, because of this cap in fees, banks are making up the money they are losing by increasing costs somewhere else. Many are doing so in the form of fees for customers when they use their debit cards. For example, some bank customers will be charged $3, $4, or $5 a month to use their debit cards.

The Durbin Amendment was passed as a part of the Dodd-Frank Financial and Consumer Protection Act that was signed into law in 2010, which I voted against. One of my concerns with this bill, along with other burdensome federal regulations coming out of Washington, is the increased costs it would create for individual citizens and businesses.  Excessive regulations directly affect pocketbooks, jobs, and business growth.

This is why I have made it a priority to reverse the regulatory trend in Washington. You can read about that work here, including the Regulations from the Executive in Need of Scrutiny (REINS) Act, which I have cosponsored, that would restore a system of checks and balances to federal regulations.

Weigh in: will the new regulations brought on by the Durbin Amendment affect your family? How are other federal regulations affecting you?

Sixteen years ago the BBA passed the House with bipartisan support, only to lose by one vote in the Senate.  Since then, the debt has nearly tripled in size, growing by $9.7 trillion, or around $1.6 billion per day.

The Balanced Budget Amendment is a game changer and we cannot afford to put it off any longer. Watch this video on a Balanced Budget Amendment and read about my work towards a Balanced Budget Amendment here.