Re: Okay, I’ll Ask

by Daniel Foster

Andy, the S&P move will be political Rorschach. House majority leader Eric Cantor just called it “a wake-up call to those in Washington asking Congress to blindly increase the debt limit.”

“Today’s announcement makes clear that the debt limit increase proposed by the Obama Administration must be accompanied by meaningful fiscal reforms that immediately reduce federal spending and stop our nation from digging itself further into debt. For decades, Washington has blindly increased the debt limit while doing little to stop spending money that it doesn’t have, a dangerous pattern that must end. As S&P made clear, getting spending and our deficit under control can no longer be put off for another day, which is why House Republicans will only move forward on the President’s request to increase the debt limit if it is accompanied by serious reforms that immediately reduce federal spending and end the culture of debt in Washington.” 

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