Tying Debt Limit to Cuts & Reforms Has Public Support, Bipartisan History
In the Weekly Republican Address, House Republican Conference Chair Cathy McMorris Rodgers (R-WA) detailed the bipartisan history of coupling an increase in the debt limit with spending cuts and economic reforms – a common-sense policy with broad public support.
Right now, we have a golden opportunity to fix the problems coming out of Washington.
By an overwhelming margin, Americans believe any debt ceiling increase should be coupled with solutions that help solve our debt and grow our economy.
Republicans have put forward a plan that does just that. It contains cuts and real reforms to build a 21st century economy – from approving the Keystone pipeline and fixing our outdated tax code to delaying the president’s health care law.
Our bill also increases the debt limit. The best way to preserve the full faith and credit of the United States is by strengthening it – which is what our plan does.
Coupling an increase in the debt limit with efforts to rein in spending is common sense – so much so that it’s been used by presidents from both parties.
President Reagan did it in 1985 when he signed the Gramm-Rudman-Hollings deficit reduction bill.
Five years later, President Bush reached a budget deal with a Democratic Congress that included a debt limit increase.
President Clinton reached a similar agreement with a Democratic majority in 1993, and with a Republican majority on the balanced budget agreement of 1997
Finally, President Obama himself worked with Republicans on a large deficit-reduction deal tied to the debt limit in the summer of 2011. It has its flaws – including the ‘sequester’ the president devised and insisted on – but it has cut spending.
Unfortunately, the president is now demanding that we increase the debt limit without engaging in any kind of bipartisan discussions about addressing our spending problem.
He wants to take the easy way out – exactly the kind of foolishness that got us here in the first place. As we know, it’s hardworking people like you who would ultimately pay the price for business as usual through higher taxes, higher prices, and fewer jobs.
To reiterate, every major deficit reduction effort of the last 30 years has been tied to the debt limit. This time should be no different. If anything, it’s more important than ever if we’re serious about getting people working again and protecting our children’s future.
Thank you for listening.
Tags: Cathy McMorris Rodgers, Representative, Washington, Weekly Republican Address, debt Limit, Spending Cuts To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
By an overwhelming margin, Americans believe any debt ceiling increase should be coupled with solutions that help solve our debt and grow our economy.
Republicans have put forward a plan that does just that. It contains cuts and real reforms to build a 21st century economy – from approving the Keystone pipeline and fixing our outdated tax code to delaying the president’s health care law.
Our bill also increases the debt limit. The best way to preserve the full faith and credit of the United States is by strengthening it – which is what our plan does.
Coupling an increase in the debt limit with efforts to rein in spending is common sense – so much so that it’s been used by presidents from both parties.
President Reagan did it in 1985 when he signed the Gramm-Rudman-Hollings deficit reduction bill.
Five years later, President Bush reached a budget deal with a Democratic Congress that included a debt limit increase.
President Clinton reached a similar agreement with a Democratic majority in 1993, and with a Republican majority on the balanced budget agreement of 1997
Finally, President Obama himself worked with Republicans on a large deficit-reduction deal tied to the debt limit in the summer of 2011. It has its flaws – including the ‘sequester’ the president devised and insisted on – but it has cut spending.
Unfortunately, the president is now demanding that we increase the debt limit without engaging in any kind of bipartisan discussions about addressing our spending problem.
He wants to take the easy way out – exactly the kind of foolishness that got us here in the first place. As we know, it’s hardworking people like you who would ultimately pay the price for business as usual through higher taxes, higher prices, and fewer jobs.
To reiterate, every major deficit reduction effort of the last 30 years has been tied to the debt limit. This time should be no different. If anything, it’s more important than ever if we’re serious about getting people working again and protecting our children’s future.
Thank you for listening.
Tags: Cathy McMorris Rodgers, Representative, Washington, Weekly Republican Address, debt Limit, Spending Cuts To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 9:58 AM - Post Link
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