Biz Leaders Want $4 Trillion in Spending Cuts
National business leaders have sent a letter to the congressional Super Committee asking them to make BIG spending cuts debt.
While the letter organized by the powerful U.S. Chamber of Commerce, the Business Roundtable, and the National Association of Manufacturers does not cite a specific dollar figure, a senior official involved in the effort told Fox News the leaders would like the panel to shoot for a deal in excess of $4 trillion in deficit reduction.
But the business groups have a significant amount of clout on Capitol Hill and, in the letter dated Thursday, they urged the 12 members of the panel to "go beyond the legislative mandate of the Balanced Budget Control Act of 2011 to achieve savings of $1.2 to $1.5 trillion to ensure that we stabilize our nation's debt and put the debt's share of the economy on a downward path. This is essential for long-term economic growth in our nation."