“INCREASING DEBT CEILING WITHOUT SPENDING CUTS AND BUDGET REFORMS IS IRRESPONSIBLE AND BAD FISCAL POLICY”

“Our national debt exceeds $14 trillion and increasing the debt ceiling without including specific spending cuts and fiscally responsible budget reforms would make the current situation worse,” said Rep. Cliff Stearns (R-Sixth).  “When a family is mired in debt, they don’t need an increase in their credit limit, they need a budget that reduces their debt – the federal government should do the same.”

Stearns joined the House today in disapproving H.R. 1954, implementing the President’s request to increase the statutory limit on the public debt.  H.R. 1954 would increase the debt limit by $2.406 trillion, from nearly $14.3 trillion to $16.7 trillion.  “The President is asking for the authority to add more than $2 trillion to the debt without any provisions to restrict excessive federal spending and borrowing,” added Stearns.  “The American people are demanding accountability, real spending reforms, and an end to business as usual – we cannot authorize this measure to add more debt and to put us farther down the road toward bankruptcy.”