Last night, the House stood with the American people and rejected the Obama Administration’s plan to raise the debt limit without spending cuts – a plan that would hurt our economy and destroy more jobs. Today Speaker Boehner released a statement signed by more than 150 economists who argue that – to help address our job-crushing, spending-driven debt crisis – budget reforms and spending cuts should be larger than any increase in the debt limit
Here is the gist of the statement:
A DEBT LIMIT INCREASE WITHOUT SIGNIFICANT SPENDING CUTS & BUDGET REFORMS WILL DESTROY AMERICAN JOBS
An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms to address our government’s spending addiction will harm private-sector job creation in America. It is criticalhttp://www.blogger.com/img/blank.gif that any debt limit legislation enacted by Congress include spending cuts and reforms that are greater than the accompanying increase in debt authority being granted to the president. We will not succeed in balancing the federal budget and overcoming the challenges of our debt until we succeed in committing ourselves to government policies that allow our economy to grow. An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms would harm private-sector job growth and represent a tremendous setback in the effort to deal with our national debt.
Check out the full text and signatories here.
More and more people are realizing just how disastrous the Obama-Pelosi-Reid economy and fiscal policy are. We cannot sustain this craziness. We have to make some hard decisions...and fast.