When the Speaker of the House speaks later today, that’s his message to the president.
“We shouldn’t dread the debt limit. We should welcome it. It’s an action-forcing event in a town that has become infamous for inaction. That night in New York City, I put forth the principle that we should not raise the debt ceiling without real spending cuts and reforms that exceed the amount of the debt limit increase.
“From all the way up in Midtown Manhattan, I could hear a great wailing and gnashing of teeth. Over the next couple of months, I was asked again and again if I would yield on my ‘position,’ what it would take, if I would budge…Each and every time, I said no … because it isn’t a ‘position’ – it’s a principle. Not just that – it’s the right thing to do.
“When the time comes, I will again insist on my simple principle of cuts and reforms greater than the debt limit increase. This is the only avenue I see right now to force the elected leadership of this country to solve our structural fiscal imbalance. If that means we have to do a series of stop-gap measures, so be it – but that’s not the ideal. Let’s start solving the problem. We can make the bold cuts and reforms necessary to meet this principle, and we must.
“Just so we’re clear, I’m talking about REAL cuts and reforms – not these tricks and gimmicks that have given Washington a pass on grappling with its spending problem.”