Hoeven Statement on Passage of Fiscal Year 2011 Continuing Resolution

WASHINGTON, D.C. – Sen. John Hoeven today issued the following statement in response to passage of the Fiscal Year 2011 Continuing Resolution that passed the U.S. Senate this afternoon: 

            “The Continuing Resolution we passed today is the first step in fundamentally changing the upward trajectory of government spending. It will cut $38.5 billion from current spending authority, $78.5 billion from President Obama’s proposed 2011 budget, and set us on a path to save $315 billion over the next decade. It will keep our government running, ensure that our military continues to be paid and make progress toward reducing our spending.

             “With these savings in place, we can now move on to the normal budgeting process for the Fiscal Year 2012 budget, where we will need to continue to work toward setting prudent spending levels. The key to our long-term fiscal health is both to reduce spending and create a legal, tax and regulatory climate that will encourage investment and, most importantly, create jobs.”