Even after the failure of the Super Committee, Congress still has an
obligation to cut spending, balance the budget, and make the necessary
reforms to restrain its ability to do significantly greater damage to our
economy.  I still believe the principles established in the Cut, Cap, and
Balance legislation I introduced earlier this year provide the way forward for
Congress to achieve these goals, get its fiscal house in order, and regain
our triple-A credit rating.  The American people overwhelmingly support
the bill and it has already passed the House. The Senate should do the
same and the President should sign it. Playing around at the margins and
cutting a few percentage points off our national debt over the next decade
may be politically suitable, but doesn¹t fix the problem.²