Once again, America's credit card is almost maxed out, and once again
By now, you know how the cycle works:
•The government collects taxes, then spends the money.
•When all that money is gone they keep spending, and they borrow to pay for it.
•When they borrow too much,
It has happened with both Republicans and Democrats in charge. Now we are more than
If something like this happened in your household, you wouldn't stand for it. If your children maxed out the family credit card and asked you to raise the credit limit on the card so they could keep spending, you'd put your foot down.
That's what some of us in
That plan would have made immediate cuts in federal spending. It would have controlled spending by capping it as a percentage of our economy. Most important, it would have started the process of adding a Balanced Budget Amendment to the Constitution.
Had we enacted the Cut, Cap and Balance Plan in 2011, we might already have balanced the federal budget through a combination of spending cuts and increased revenues through job creation and economic growth. Instead, the bill never received a hearing in the
Whether it's a family credit card or the national debt, we can't let irresponsible behavior go on forever. We can't let unrelated issues cloud the debt ceiling debate, such as the proposal to link a fix for military pensions to extending the debt ceiling. I was happy to support this fix as separate legislation, but did not want it tied to the nation's borrowing policy.
We must break the cycle of spending, borrowing and raising the debt ceiling. Passing a bold plan like Cut, Cap and Balance will not only help jump-start our economy, it also will demonstrate to the American people that
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