Covering Your World

Jun 22, 2011 10:11 PM

Paul: No Debt Increase Without Spending Cuts, Balanced Budget Ammendment

WASHINGTON, D.C. - Today, Sen. Rand Paul declared his support of the Cut-Cap-Balance Pledge, which urges Members of Congress to oppose any debt limit increase unless three major conditions are met. Sen. Paul was joined by nine other Republican Senators, 11 House Republicans, and members of advocacy groups representing thousands of Americans.

Sen. Paul made the following statement regarding his signing of the pledge Wednesday afternoon:

"Bold action is needed to address our nation's looming fiscal crisis and I urge my Senate colleagues as well as Members in the House to fulfill our duty to the American people who want us to address this issue. Our national debt currently stands at $14.3 trillion. To defeat such a tall order, we as a Congress must get serious about the solutions we propose to restore fiscal discipline and prosperity."

"I pledge, and encourage other Members of Congress to join me in pledging, to oppose any debt limit increase that does not include a plan of spending cuts, caps and most importantly an iron-clad balanced budget amendment."

"I am convinced, after my time here in Washington, that the only way we can get our fiscal house in order is through structural reform such as those proposed in the Cut Cap Balance Pledge. With these conditions in place, we can begin the process of defeating this catastrophic national debt, which is why I wholeheartedly pledge my support."

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