Renacci: Deficit Committee's Failure Shows Washington Still Doesn't Understand Debt Problem

Statement

Today, U.S. Representative Jim Renacci (OH-16) released the following statement on the apparent failure of the Joint Select Committee on Deficit Reduction to produce a plan to curb America's deficit spending:

"The impending failure of the Deficit Committee is another clear example that politics as usual remains the name of the game in Washington. Once again the American economy is being imperiled by indecisiveness and indecision in our nation's capital. I and many of my colleagues in the House were elected last year because we understood that the free-spending ways of previous Congresses have put us on an unsustainable course. It is quite apparent many in Washington still do not understand that we cannot continue to spend money we do not have and they will fight any effort to rein in our runaway spending.

"Today, I am calling on all Members of Congress to remain in Washington -- as I am prepared to do -- through the holidays and until a plan to get control of our massive yearly deficits is finalized. It is also past time for President Obama to engage in the discussion. Leaders lead, especially when it matters most. So far, the President has sat on the sidelines during the most important debate our nation has ever had about our fiscal future. The American people can't run and hide from the impending debt crisis, and the president needs to understand he can't either."

Rep. Renacci is serving his first term in the U.S. House of Representatives, where he is a member of the Financial Services Committee. Prior to his election he worked as a Certified Public Accountant in the health care industry, and owned and operated over 60 other businesses in the automotive and sports management fields.

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