Oct 18 2013 -
RENACCI STATEMENT ON SENATE DEBT HIKE BILL
Washington, DC—Tonight, Congressman Jim Renacci released the following statement on the Senate’s legislation to increase the debt limit:
“As I have said since I first took office, while default is not an option, neither is the status quo. The day President Obama first took office, our debt was $10.6 trillion, a figure that took centuries to reach. Today, five years later, it’s nearly $17 trillion. We are beyond fortunate to live in the greatest nation in the history of the world, and I refuse to bankrupt it. After the President made clear that he would rather default than negotiate with the House of Representatives, Speaker Boehner was left with no choice but to bring this bill to floor—and I do not fault him one bit for it. However, I simply cannot lend my support to legislation that once again raises the debt ceiling while doing nothing to impose needed fiscal reforms nor address the drivers of the massive debt that is crippling this nation.
“A few short years ago a Senator from Illinois said the following before voting against a debt limit hike: ‘The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure.’ Those were the words of Barack Obama. If only he knew now what he seemed to know then, America would be in a far better place. For these reasons I oppose this legislation.”