RSC Update: No Debt Limit Hike without Cut, Cap, & Balance

From the Chairman

For more than a month, various small groups of lawmakers, one led by Vice President Biden, have been meeting in an attempt to find an agreement on cutting spending and raising the national debt limit.  As you know, the RSC is pushing hard for a Cut, Cap, and Balance approach. Now our movement grows even stronger.

A large coalition of groups concerned about the nation’s financial state is putting its weight behind Cut, Cap, and Balance. On Friday, I proudly signed their pledge to oppose any debt ceiling increase unless Congress makes substantial spending cuts for the upcoming year, enacts statutory spending caps, and passes a Balanced Budget Amendment to the Constitution that caps spending and raises the hurdle for tax increases. I will not support a debt limit increase unless we Cut, Cap, and Balance.

Economists from across the political spectrum agree that America faces a debt crisis in just a few years unless we quickly change course. Cut, Cap, and Balance is the only plan on the table that can prevent the coming crisis and keep the American Dream alive.