Freshman Representative Adam Kinzinger (R-IL) explained to the "Meet the Press" roundtable that Congress agreeing to a raise in the debt ceiling is a compromise in and of itself and that the Administration's side of the compromise needs to be a reduction of spending.
"Like I said, truly, there is a feeling in my caucus, and in me specifically, I can say, that I feel we are willing to compromise by coming to the table and saying we understand we'll have to raise the debt limit specifically, but we have to get ourselves on a fiscal trajectory, because look, we've spent too much money. We have the same tax rates, the same two wars, the same prescription drug benefit in 2007, but the deficit then was $161 billion. This year it's $1.5 trillion.” 72;72;
Congress agreeing to a raise in the debt ceiling is a compromise in and of itself and that the Administration's side of the compromise needs to be a reduction of spending.
This is exactly right. It's about time that someone said it.
The House already passed a bi-partisan bill to raise the debt ceiling and cut spending.
The Democrat Senate refused to allow people to vote on it.
When big portions of the government shut down next Monday because the government can't borrow any more money, the fault will lie with Harry Reid and the Democrats in the Senate.
This country now possesses the strongest credit in the world. The full consequences of a default or even the serious prospect of default by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and on the value of the dollar in exchange markets. The Nation can ill afford to allow such a result. The risks, the cost, the disruptions, and the incalculable damage lead me to but one conclusion: the Senate must pass this legislation before the Congress adjourns. I want to thank you for your immediate attention to this urgent problem and for your assistance in passing an extension of the debt ceiling.
President Ronald Reagan, 1983 letter to Sen. Howard Baker.
