Gibson Statement on Debt Limit Vote

Statement

Congressman Chris Gibson (NY-20) released the following statement regarding the clean debt limit increase that failed in the House of Representatives tonight by a vote of 318 to 97:

"As every American knows, Washington has a spending problem -- resulting in a staggering $14.3 trillion debt that is projected to continue to skyrocket if we don't change course. Yet, there are those in Congress and the Administration that have advocated that the appropriate response to the United States reaching its statutory debt ceiling on May 16 was to simply increase the borrowing limit with no other reforms -- allowing Washington to keep spending money until yet another raise was needed. I categorically disagree, and voted "no' this evening on a bill to raise the debt limit with no spending cuts or structural reforms attached.

"Last month, for the first time since 1941, Standard & Poor's revised its outlook on the United States credit rating from stable to negative, citing the fear that Congress will fail to address the nation's medium- and long-term budgetary challenges. We have approximately two months until the Treasury Secretary predicts the United States will default on its debt, and during this time, I urge the President and the Senate to come to the negotiating table with the House with a serious proposal to address our country's failing fiscal health.

"We took the first steps towards a balanced budget when we cut $39 billion from the Fiscal Year 2010 enacted level, which was the largest cut in discretionary spending in our country's history. Although we face significant challenges, if we make the right choices, our best days are still in front of us. We need pro-growth, fiscally responsible policies that facilitate job creation and balanced budgets. As your representative, I will continue to fight for these priorities in Congress."

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