Why I Opposed the Debt Limit Increase

This act increases the debt limit by between $2.1 and $2.4 trillion, the biggest explosion of debt in American history. It allows the government to avoid spending reductions for the next two years while squandering our last best hope of averting a sovereign debt crisis.

I am opposed to this measure for the following reasons:

The purported cuts, even if realized, are far below the $4 trillion deficit reduction that credit rating agencies have warned is necessary to preserve the Triple-A credit rating of the United States government.

It blows the lid off the House budget passed in April by more than a half-trillion dollars over ten years.

It makes no significant spending reductions for at least the next two years, essentially freezing spending at an unsustainable level. While the debt increase occurs this year, deficit reductions are to be spread over many years and could be reversed by future acts of Congress.

The spending caps are easily circumvented by declaring appropriations to be an emergency, a response to a “major disaster,” or necessary for the “Global War on Terror.”

 Read More at Floyd Reports By Rep. Tom McClintock, Floyd Reports

  • Bruce Feher

    Washington, as usual, is screwing EVERYTHING up. This economy WILL crash and burn. The sooner, the better. Once we hit rock bottom we can rebuild it, right!
    Get rid of the DC crowd for starters….

  • Bob Smith

    It’s a broad and long struggle before us. Only an engaged citizenry can hope to pull it off. With so many institutions and professional livelihoods involved with the system the resistance is strong. We need to elect statesmen/spokesman who will challenge the false premises constructed to herd us as sheep. We must find a way to exact a price from the lazy/complicit media. They should have the same fear they’d have if they violated political correctness. This is just not tolerable.