Lance Opposes Clean Debt Limit Increase

Seventh District lawmaker rejects President’s request to raise debt limit absent meaningful spending reforms

WASHINGTON, D.C --- Congressman Leonard Lance (NJ-07) tonight released the following statement following House passage of legislation to raise the government’s borrowing limit until March 2015 – without any conditions:

 "It is important that America pays its bills in-full and on-time.  And it is equally important that in doing so we live within our means.  Unfortunately the President’s most recent debt limit increase request to Congress does nothing to lower our national debt.  It is a blank check at a time when our country is in dire need of fiscal restraint.

 “For more than 50 years U.S. presidents from Dwight Eisenhower and Jimmy Carter to Ronald Reagan and Bill Clinton have negotiated with Congress over the debt ceiling.  This has not been the case with Obama Administration.  It refuses to come to the table and work with congressional Republicans to lower the deficit and strengthen our country's fiscal health.

 “Today, our gross national debt stands at a staggering $17.2 trillion, which is more than $140,000 per American household.  Since 2009, our national debt has increased by more than $6 trillion.  The non-partisan Congressional Budget Office this week said a growing federal debt increases the risk of a ‘fiscal crisis.’  And U.S. Admiral Mike Mullen, former Chairman of the Joint Chiefs of Staff, said our debt is ‘the biggest threat to our national security.’

 "President Obama missed an opportunity to work with Congress to address the debt ceiling issue responsibly by failing to include serious spending reforms to reduce the deficit.”