Cantor on Unprecedented Spending, Debt
House Republican Whip Eric Cantor (R-VA) today issued the following statement in response to the U.S. Treasury auction of a record $104 billion in bonds as America's debt continues to rapidly increase:
"Middle class American households understand the notion of having a budget and living within their means and Washington ought to have the same disciplined approach. Sadly, the Administration and Congress continue an unprecedented spending binge, forcing a record setting auction of $104 billion of Treasury bonds this week to sustain our debt. To put this in perspective, yesterday America signed on to pay approximately $900 million over two years just to borrow $40 billion, much of it from other nations.
"As the real cost and consequences of the Democrat agenda have become evident, Americans grow more uncomfortable by the day. The Administration and Congress simply cannot keep spending money as the answer to every challenge facing our country.
"We stand ready to work together on smart, focused policies designed to get America back to work and restore the financial security that so many families have lost. However, to preserve our long-term fiscal stability strength and growth for generations to come, we must act to stem the irresponsible spending that is going on in Washington."