Blog Archive

Blog Archive

Tuesday, April 12, 2011

postheadericon GOP lawmaker: There will be debt-limit increase

Congress will eventually vote to raise the debt ceiling even though some conservative lawmakers have balked at the proposal, a GOP congressman said Monday.

Rep. Frank Lucas (Okla.) predicted there will be "gamesmanship" between the two parties over lifting the $14.3 trillion debt limit, but said both sides must come to an agreement to prevent the United States from defaulting on its debt. 

{mosads}"There will be an increase in the deficit [sic]," Lucas said during a speech to the Tulsa Metro Chamber, according to the Tulsa World. "We cannot trigger what will come from not being able to pay our bills."

Lucas's call for an agreement comes as Republicans and Democrats have turned the debt-limit debate into the cou! ntry's next big fiscal fight, following the heated debate over 2011 government funding.

Republican leaders have said they will only vote to raise the debt ceiling if it is coupled with a package of spending cuts. Meanwhile, the White House and Democrats have pushed for a "clean" vote on the debt limit, saying that failing to approve the measure would be "Armageddon-like"! for the economy.

Lucas said, "I won't throw the country into the street ... I believe we can come together and reach an agreement." 

The Agriculture Committee chairman and Financial Services Committee member said that a long-term solution on the debt limit and other fiscal issues is preferable. 

"That said, be ready for gamesmanship. Ultimately, though, the president, a majority of the Senate and a majority of the House will have to come to a long-term solution," he said. "We cannot continue to add $1 trillion to the national debt on an annual basis."

0 ความคิดเห็น: