Debt Ceiling Increase 1: Thanks to Senator Mitch McConnell (R-KY)!

Senator Mitch McConnell

LLPH thanks Senator McConnell (R-KY) for voting against raising the debt ceiling without spending cuts. We believe that true spending cuts must happen NOW…no more excuses.

Here is his statement from a floor speech and press release:

“We’ve had four years of the Obama Economy. It hasn’t worked. This would be the time to try something new. But the President seems content to simply double down on more of the same. He wants to spend more, which would only worsen our trillion-dollar deficits. And the very same President who warned against raising taxes in a down economy is proposing to raise taxes in a down economy. He’s clearly getting a big assist on that front from the Chairwoman of the Budget Committee, who says she’s going to include tax hikes in the Senate Democrats’ budget plan.

“That’s a bad enough idea to begin with, but it’s especially counterproductive considering yesterday’s dismal growth numbers. Because there are two things we know about tax increases: First, they reduce jobs and hurt economic growth, and second, they distract us from addressing the real problem, which is spending.

“As I’ve explained repeatedly on the floor over the past two weeks, government spending is completely out of control – and it’s projected to get much worse in years to come. Even if the President got the additional tax increases he’s asked for, we still wouldn’t even come close to solving the problem. And we certainly won’t get there by wasting time on poll-tested P.R. gimmicks that will hardly bring in any revenue. Every minute the administration spends talking about corporate jets is one less minute we have to discuss serious ways to confront the challenges we face. Clearly, it’s the spending we have to deal with. And now is the perfect time to do so.

“We’ve had four years of the Obama Economy. It hasn’t worked. This would be the time to try something new. But the President seems content to simply double down on more of the same. He wants to spend more, which would only worsen our trillion-dollar deficits. And the very same President who warned against raising taxes in a down economy is proposing to raise taxes in a down economy. He’s clearly getting a big assist on that front from the Chairwoman of the Budget Committee, who says she’s going to include tax hikes in the Senate Democrats’ budget plan.

“That’s a bad enough idea to begin with, but it’s especially counterproductive considering yesterday’s dismal growth numbers. Because there are two things we know about tax increases: First, they reduce jobs and hurt economic growth, and second, they distract us from addressing the real problem, which is spending.

“As I’ve explained repeatedly on the floor over the past two weeks, government spending is completely out of control – and it’s projected to get much worse in years to come. Even if the President got the additional tax increases he’s asked for, we still wouldn’t even come close to solving the problem. And we certainly won’t get there by wasting time on poll-tested P.R. gimmicks that will hardly bring in any revenue. Every minute the administration spends talking about corporate jets is one less minute we have to discuss serious ways to confront the challenges we face. Clearly, it’s the spending we have to deal with. And now is the perfect time to do so.

LLPH agrees with Senator McConnell (R-KY) and encourages him to continue opposing any future increases without spending cuts.

Here is the link to his press release: http://www.mcconnell.senate.gov/public/index.cfm?p=PressReleases&ContentRecord_id=473d2dac-4620-45af-afcd-efacc94c1394&ContentType_id=c19bc7a5-2bb9-4a73-b2ab-3c1b5191a72b&Group_id=0fd6ddca-6a05-4b26-8710-a0b7b59a8f1f

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