Washington, DC – Congressman Leonard Lance (NJ-7) released the following statement in reaction to the U.S. government today reaching the $14.3 trillion debt ceiling.

"Today's news that our Nation's debt now surpasses $14.3 trillion is a sobering reminder that we must tackle our unsustainable levels of debt and deficits immediately and with decisive action. President Obama and Congress must work in a bipartisan capacity on the debt ceiling issue by including meaningful spending reforms, substantial reductions in current spending and safeguards that will restrict future spending, such as the balanced budget amendment and spending caps.  Passage of such a legislative package would be a significant step toward a path of fiscal responsibility, job creation and economic growth.  Failure to do so will damage our current economic recovery efforts and further burden our children and grandchildren for future generations to come."

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