Natalie Gonnella
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After yesterday's symbolic debt ceiling vote, House Speaker John Boehner released a statement today signed by over 150 economists supporting the GOP view that to seriously address the country's "job-crushing, spending-driven debt crisis," expenditure cuts and budgetary reforms must be larger than any debt limit increase:
A debt limit increase without significant spending cuts & budget reforms will destroy American jobs:
An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms to address our government’s spending addiction will harm private-sector job creation in America. It is critical that any debt limit legislation enacted by Congress include spending cuts and reforms that are greater than the accompanying increase in debt authority being granted to the president. We will not succeed in balancing the federal budget and overcoming the challenges of our debt until we succeed in committing ourselves to government policies that allow our economy to grow. An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms would harm private-sector job growth and represent a tremendous setback in the effort to deal with our national debt.
The full list of signatories is available to view here.
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