Debt Ceiling Increase 1: Rep. Tom McClintock (R-CA 4) Gives Floor Speech

Representative Tom McClintock

LLPH thanks Rep. McClintock for voting against this first debt ceiling increase for 3 months. While we did not score this vote, due to the No Budget, No Pay feature of the bill, we promise that in the future, increase the debt ceiling without spending cuts will be seen as a clear and strong violation of LLPH principles. WE WILL SCORE DEBT CEILING INCREASES IN THE FUTURE!

The Congressman stated on the House floor: 

HR 325: Carte Blanche Credit
January 23, 2013

 

Mr. Speaker:

The House is poised to pass HR 325.  I respect the sincerity of its supporters, but I must firmly dissent.

 

This bill accommodates spending at ruinous levels far beyond the limits set by the House budget.  It sets a terrible precedent by abolishing the debt limit for nearly four months, giving an unlimited credit card to this administration. 

 

I think members will be stunned by the borrowing that this moratorium makes possible – certainly thousands of dollars of new debt heaped on every household in America. 

 

House Republicans have passed two budget plans that put our nation back on a path to fiscal solvency.  If the debt limit were increased within that trajectory at two month intervals, it would require only small and incremental reforms each time. That would both avert default now and the fiscal crisis that we are fast approaching.  I believe that is achievable and far preferable to the bill to be voted on today.

LLPH applauds Rep. McClintock for his leadership and encourages him to continue fighting for fiscal sanity.

Here is the link to the video of his floor speech: http://www.youtube.com/watch?v=yvwF551l_gI

Here is the link to his press release: http://mcclintock.house.gov/2013/01/debt-limit-hr-325-carte-blanche-credit.shtml

Here is the link to the roll call vote: http://www.govtrack.us/congress/votes/113-2013/h30

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