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The Hill: Rubio, Others Call on Obama to Pay Down Debt with $45 Billion in Unused Taxpayer Money

Posted 2/27/2013

By Pete Kasperowicz
February 27, 2013

Sen. Marco Rubio (R-Fla.), Rep. Tom Price (R-Ga.) and several other House and Senate Republicans are proposing that the Obama administration use billions in unspent money being held by the government to pay down the debt.

Their Decrease Spending Now Act, S. 379 and H.R. 828, finds that the administration is sitting on $45 billion in discretionary funds that it has not spent. It says that money should be used to pay down the debt, instead of letting it sit in accounts for no other purpose.

The $45 billion in unused money cited by the bill is more than half of the $85 of the sequester that is due to take effect on Friday.

“Washington’s reckless spending culture has produced this situation where hundreds of billions of dollars are borrowed and then left unspent because Congress routinely bites off more than it can chew,” Rubio said.

“Let’s reform the spending culture in Washington so that unspent and unnecessarily borrowed money is rescinded and dedicated to pay down the debt, instead of letting it sit around until someone decides to spend it.”

Read the rest of the article here.