In response to President Obama's comments on the debt limit, House Majority Leader Eric Cantor released the following statement:
"The American people deserve better from Washington. We cannot deliver meaningful change and necessary reforms if we refuse to address out-of-control spending. In 2006, then-Senator Barack Obama said "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. Government can't pay its own bills." Yet, under President Obama, we have seen record-setting deficit spending and trillions added to our nation's debt. This is leadership failure.