January 23, 2013
"Rather than increasing the debt limit in a long-term way that would provide certainty and stability for our economy, the legislation passed by the House of Representatives simply punts the debt limit issue until May. By choosing to delay addressing our debt limit in a serious way, we only make matters worse.
“The debt limit allows the U.S. government to pay back its debts and in no way increases our spending. Not being able to find long-term solutions to our debt limit will only prevent the U.S. from being able to pay back our debts – not reduce our deficits. Congress and the American people need to be serious about reducing our deficits by cutting spending and increasing revenue. The proposal passed today fails to get us on a path to fiscal security. “