McCarthy: Debt Increase Without Spending Reductions And Reforms Is A Non-Starter
Washington D.C. – Congressman Kevin McCarthy released the following statement after the House rejected the President's request to increase the statutory debt limit without spending reductions or reforms:
"Today's vote sends a clear message to President Obama and Congressional Democrats that their plan to continue down a path of trillion dollar deficits is not an option. As I've said from the beginning, there's not a single House Republican willing to vote to increase our debt limit without significant spending reductions and reforms to address our $14.28 trillion national debt. In the last two years Washington Democrats added over $3 trillion to the national debt. Now, the non-partisan Congressional Budget Office is reporting the President's 2012 budget would add an additional $9.1 trillion over the next decade. This is not sustainable and the American people made it clear last fall they want an end to Washington's spending spree.
"Yet, Washington Democrats' only solution is a plan that will bankrupt Medicare while adding trillions in new spending, taxes, and deficits. House Republicans will sit down with President Obama tomorrow and discuss the plan we put forward that reduces our debt, institutes common sense pro-growth economic policies, and saves and preserves critical safety nets for current and future beneficiaries. It's time for the President and Congressional Democrats to join us in implementing policies that get people back to work and put America on a path to prosperity."