Amy Klobuchar - Debt, Deficit, Spending, and the Size of Government
Last Updated: Feb 22, 2011
Summit on Fiscal Responsibility
In February of 2009, Senator Klobuchar released a press statement noting the summit on fiscal responsibility.
Klobuchar Attends Bipartisan White House Summit on Fiscal Responsibility
Says reducing deficit an essential part of long-term economic prosperity
February 23, 2009
Washington, D.C. – U.S. Senator Amy Klobuchar attended the White House Summit on Fiscal Responsibility today and participated in discussions about how we can reduce the deficit. The discussions focused on ensuring the long-term viability of the U.S. economy by reducing the deficit and examining the long-term fiscal health of Medicare and Medicaid. Klobuchar has been a leader in the effort to reform Medicare by advocating for solutions that pay health care providers according to the actual quality of care they deliver, rather than the volume of procedures they perform. Incorporating many of these cost-efficient effective measures could potentially save Medicare tens of billions of dollars.
“We can’t continue with business as usual,” said Klobuchar. “Today’s summit is the first step to restore fiscal responsibility to Washington. We need to cut the deficit and I look forward to working with President Obama to reduce costs, cut bureaucracy and hold Washington accountable for its spending. We have a new opportunity today to move forward with meaningful reforms that will help reduce our deficit and improve our long-term economic health.”
Klobuchar was joined at the White House by business leaders, independent experts, advocacy groups, and other members of Congress to discuss how to address the trillion-dollar deficit inherited from the Bush Administration.
Much of the conversation centered on how to bring down the rising costs of health care. At $2.3 trillion per year, health care spending currently accounts for about 16 percent of the American economy. If it continues to rise at the current rate, health care spending will account for about 22 percent of America’s economic activity by 2020.
Klobuchar said Medicare still pays providers based on quantity of services, not quality or outcomes. According to the Congressional Budget Office, nearly $700 billion per year in health care services do not improve health outcomes. That represents nearly one-third of all health care spending.
Push for Debt Commission
In January of 2010, Senator Klobuchar released a press statement noting her support for a bipartisan debt commission.
Klobuchar Continues to Push for Bipartisan Debt Commission
January 26, 2010
Washington, DC – Today U.S. Senator Amy Klobuchar voted for legislation aimed at addressing the nation’s long-term budget crisis. Klobuchar is an original cosponsor of The Bipartisan Task Force for Responsible Fiscal Action Act which sought to establish a bipartisan commission of members of Congress and Administration officials who would make recommendations for substantial improvements to the government’s long-term fiscal imbalances. The Senate vote on the measure was 53-46, seven votes short of the required 60-vote threshold.
“I believe we need to change the way Washington works when it comes to our long-term fiscal outlook,” said Klobuchar. “I am disappointed this did not pass, and I will continue to push for legislation that eliminates unsustainable spending and restores our financial stability.”
The Bipartisan Task Force for Responsible Fiscal Action Act would have established an 18 member commission comprised of 10 Democrats and eight Republicans charged with reviewing all aspects of the current and long-term financial conditions of the federal government. Klobuchar joined a group of 14 senators leading the efforts to advance this initiative in meeting with Vice President Joe Biden and other Administration officials on January 20, 2010 to push for their support of the commission. The senators are also considering an alternate presidentially appointed debt commission with a required congressional vote on their recommendations.
Klobuchar is a member of the Joint Economic Committee.
Reaction to Debt Commission
In February of 2010, Senator Klobuchar released a press statement noting her reaction to the creation of the debt commission.
Klobuchar Statement on Creation of Presidential Deficit Reduction Commission
Klobuchar was one of 14 that required the creation of debt commission before voting to fund the government
February 18, 2010
Washington, DC – Today U.S. Senator Amy Klobuchar released the following statement on President Obama’s executive order to establish the National Commission on Fiscal Responsibility and Reform, which would bring both private sector and Congressional officials together to evaluate spending and make reductions to the national debt.
“This Commission is a solid first step in our path to long-term deficit reduction,” said Klobuchar. “Reining in spending will help get our fiscal house back in order and restore economic stability.”
Klobuchar has long been an advocate of bipartisan solutions to the problem of out-of-control spending. Klobuchar was an original cosponsor of The Bipartisan Task Force for Responsible Fiscal Action Act (S. 2853), which sought to establish a bipartisan commission of members of Congress and Administration officials who would make recommendations for substantial improvements to the government’s long-term fiscal imbalances.
Klobuchar and 13 other senators stated they would not vote to raise the national debt limit, enabling funding of federal government programs, until the Senate voted on the bill (S. 2853) to create the fiscal task force as a mechanism to reduce long-term spending patterns. The legislation failed to achieve the needed 60-vote threshold, with a final vote of 53-46.
Klobuchar is a member of the Joint Economic Committee.
Questioning of Chairman Bernanke
In April of 2010, Senator Klobuchar released a press statement noting her questioning of Chairman Bernanke on debt and spending.
Klobuchar Questions Fed Chairman Bernanke on Rising Debt
April 14, 2010
Washington, D.C. – At a Joint Economic Committee hearing today U.S. Senator Amy Klobuchar urged Federal Reserve Chairman Ben Bernanke to address concerns over rapidly increasing national debt and the risk of future inflation. Klobuchar also highlighted the need for greater action to combat high unemployment and questioned the chairman about retraining programs and incentives to help workers transition back to work after long periods of unemployment.
“My number one priority is jobs, jobs, jobs,” said Klobuchar. “We are seeing signs of economic recovery but American workers are not out of the woods yet. Small businesses are the engines of job creation, and we need to make sure our businesses have the tools they need to survive, thrive, and start hiring again.”
Klobuchar also pressed Bernanke on the progress of the National Commission on Fiscal Responsibility and Reform, which has been established to conduct a full evaluation of the federal budget and will make recommendations to Congress on ways to reduce federal debt.
“Reining in spending will help get our fiscal house back in order and restore economic stability,” said Klobuchar. “In order to secure a strong long-term economic outlook, we need to change the way our government does business.”
Klobuchar has long been an advocate of bipartisan solutions to the problem of out-of-control spending. Klobuchar was an original cosponsor of the Bipartisan Task Force for Responsible Fiscal Action Act (S. 2853), which sought to establish a bipartisan commission of members of Congress and Administration officials who would make recommendations for substantial improvements to the government’s long-term fiscal imbalances. This legislation served as the framework for the National Commission established by President Obama in February 2010.
The Congressional Budget Office estimates that at the end of 2009, debt held by the public was $7.5 trillion or 53 percent of Gross Domestic Product (GDP).
Finally, Klobuchar focused on the importance of community banks and making sure regulatory reform efforts allowed them to continue providing valuable services to communities across Minnesota.
Minnesota’s unemployment rate of 7.3 percent is down from 7.6 percent in October. However, Minnesota has 62,000 fewer jobs than it did a year ago, and as many as seven job seekers for every available position. In the past year Minnesota has lost 2.3 percent of its jobs while nationally jobs have declined by 2.5 percent.
Voting Record
Budget Control Act of 2011
In August of 2011, the Senate voted on the Budget Control Act of 2011. The legislation raised the debt ceiling in increments and created a committee to find cuts in the budget or other methods to lower the deficit. The measure passed 74-26. Amy Klobuchar voted in favor of the Budget Control Act.
Amy Klobuchar voted in favor of the Budget Control Act.
Cut, Cap, and Balance Act of 2011
In July of 2011, the Senate voted on legislation to cut spending on discretionary and other items, cap the amount the federal government can spend as a function of GDP, and require a balanced budget. The legisaltion also provided for an increase in the debt limit. The measure failed to pass the Senate and was tabled in a 51-46 vote along party lines. Amy Klobuchar voted in favor of tabling the bill and thus opposed the cut, cap, and balance plan.
Amy Klobuchar voted in favor of tabling the bill and thus opposed the cut, cap, and balance plan.
Increasing the Debt Ceiling to $14.294 Trillion
In January of 2010, the Senate voted on PAYGO legislation that also increased the limit on the national debt ceiling to $14.294 trillion. The legislation passed 60-39. Amy Klobuchar voted in favor of the debt increase.
Amy Klobuchar voted in favor of the debt increase.
Stimulus - Debt Ceiling Increase to $12.104 trillion
In February of 2009, the Senate passed the stimulus bill - officially named the American Recovery and Reinvestment Act. The act contained language to increase the debt ceiling to $12.104 trillion and passed 61-37. Amy Klobuchar voted in favor of passing the legislation that increased the debt ceiling to $12.104 trillion.
Amy Klobuchar voted in favor of passing the legislation that increased the debt ceiling to $12.104 trillion.
Increasing the Debt Ceiling to $12.394 trillion
In December of 2009, the Senate voted to increase the debt ceiling to $12.394 trillion. The measure passed 60-39. Amy Klobuchar voted in favor of increasing the debt limit.
Amy Klobuchar voted in favor of increasing the debt limit.
Housing and Economic Recovery Act of 2008 - Debt Ceiling Increase to $10.615 trillion
In April of 2008, the Senate passed the Housing and Economic Recovery Act of 2008. Included in that legislation was an increase to the debt ceiling to $10.615 trillion. The legislation passed the Senate 84-12. Amy Klobuchar voted in favor of the legislation to increase the debt ceiling.
Amy Klobuchar voted in favor of the legislation to increase the debt ceiling.
TARP - Debt Ceiling Increase to $11.315 trillion
In October of 2008, the Senate passed the Emergency Economic Stabilization Act - the TARP. The legislation included an increase in the debt ceiling to $11.3115 trillion. The legislation passed 74-25. Amy Klobuchar voted in favor of the legislation to increase the debt ceiling to $11.315 trillion.
Amy Klobuchar voted in favor of the legislation to increase the debt ceiling to $11.315 trillion.
Increasing the debt ceiling to $9.815 trillion
In September of 2007, the Senate voted to pass a measure that increased the debt ceiling to $9.815 trillion. The measure passed 53-42. Amy Klobuchar voted against increasing the debt ceiling to $9.815 trillion.
Amy Klobuchar voted against increasing the debt ceiling to $9.815 trillion.
Sponsored and Cosponsored Legislation
Reduce Unnecessary Spending Act of 2011 - Cosponsor
This Act is to create an optional fast-track procedure the President may use when submitting rescission requests, which would lead to an up-or-down vote by Congress on the President's package of rescissions, without amendment.
Fiscal Responsibility Act of 2009 - Cosponsor
Expresses the sense of Congress that Congress and the President should restore fiscal discipline and begin to address the long-term fiscal challenges facing the United States through certain measures. Specifies among such measures: (1) strong pay-as-you-go rules, to help block the approval of measures that would increase the deficit; and (2) recognition of warnings by both the Government Accountability Office (GAO) and the Congressional Budget Office (CBO) that the federal budget is on an unsustainable path of rising deficits and debt. Urges establishment of a process to: (1) analyze the current and long-term federal actuarial financial condition and the gap between the federal projected revenues and expenditures; (2) identify factors that affect the federal long-term fiscal balance; (3) analyze potential courses of action to address them; and (4) seek a bipartisan agreement, or set of agreements, that will significantly improve the nation's long-term fiscal imbalances and the gap between projected revenues and expenditures, ensure U.S. economic security, and expand future prosperity and growth for all Americans. Urges as well reviews of: (1) all federal spending and tax expenditures by the Director of the Office of Management and Budget (OMB) to identify items that are outdated, inefficient, poorly run, unnecessary, or otherwise undeserving of scarce federal resources or in need of reform; and (2) the current federal taxation system to ensure that burdens are borne fairly and equitably.
Reduce Unnecessary Spending Act of 2010 - Cosponsor
Amends the Impoundment Control Act of 1974 to require the Office of Management and Budget (OMB) to transmit, within 45 calendar days after enactment of the funding in question, a message to Congress with specified information requesting any rescission the President proposes under the procedures in this Act. Prescribes requirements for timing and packaging of rescission requests. Authorizes OMB, subject to a specified time limit, to withhold funding from obligation temporarily if the President proposes a rescission. Prohibits the President from invoking such expedited procedures or such authority to withhold funding on more than one occasion for any Act providing funding. Sets forth procedures for expedited congressional consideration of proposed rescissions.
Jubilee Act for Responsible Lending and Expanded Debt Cancellation of 2008 - Cosponsor
A bill to provide for greater responsibility in lending and expanded cancellation of debts owed to the United States and the international financial institutions by low-income countries, and for other purposes.
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