Canseco stands against debt increase without clear path to financial sustainability

Washington, DC – Washington DC- Congressman Francisco Canseco (TX-23), a strong advocate for fiscal responsibility in the House of Representatives, released the following statement in response to passage of legislation disapproving of President Obama's request to raise the debt ceiling by an additional $1.2 trillion in the House of Representatives.

 

"Over the past year, we've seen our nation's credit rating downgraded, heard warning after warning about the perilous fiscal path our nation has been headed down, and watched the European debt crisis unfold as a preview of what could happen to the United States. Yet, we're right back where we’ve been before. Instead of considering a proposal to cut spending and put our nation back onto a sustainable fiscal path, President Obama is asking us to borrow more money so we can keep on spending. 

 

While many of my colleagues and I voted for the Budget Control Act, which allows President Obama to request this $1.2 trillion increase, we did so in the context of supporting a solution that would enable the United States to pay our bills and not default on the debt in the short term while at the same time creating a long term process to make a down payment on getting our nation's fiscal house in order. However, Washington liberals never got serious about trying to make the Joint Select Committee on Deficit Reduction, also known as the 'Super Committee' a success, and it failed to come up with a plan to make a down payment on getting our nation back onto a sustainable fiscal path. This increase in the debt ceiling - after the failure of the Super Committee - is like giving an alcoholic who left rehab another drink, instead of helping them with their addiction. I cannot support adding more debt onto the backs of our children and grandchildren while our nation lacks a long term plan in place to begin cutting spending and reducing our nation's debt burden," said Congressman Canseco.

 

 

 

To schedule an interview please contact Valentina Weis at (202) 225-4511 or Valentina.Weis@mail.house.gov