Republicans call for spending cuts with debt ceiling bill, blaming “runaway government spending” for inflation

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Senator Cynthia Lummis, R-Wyo., Discusses the lack of bipartisanship in infrastructure and rising national debt, arguing that her colleagues have “become accustomed to the T-word, trillions.”

FIRST ON FOX – Republicans on the House Budget Committee are calling on Congressional leaders to include spending controls with any increase in the debt ceiling, as the July 31 expiration of the ceiling suspension debt is looming.

For weeks, Republicans have said they plan to use the fact that Congress will be forced to raise the debt ceiling to draw attention to what they see as the country’s “spending problem” . Thursday’s letter highlights what Republicans say are alarming statistics on federal government spending and suggests steps Congress could take to rule that.

“With record amounts of government spending over the past two years accompanied by historic inflation levels, in addition to the country’s drastically changed fiscal conditions over the past five decades, it is imperative that Congress take meaningful action now. to put finance on a more sustainable and appropriate path, ”the letter said.

He cites the Congressional Budget Office’s projections that the deficit this year will be $ 3 trillion and that the government is expected to spend more than $ 60 trillion over the next 10 years – without even considering the current spending plan. Democrats expect $ 3.5 trillion more.

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“Uncontrolled government spending increases inflation in the economy and hurts American families – especially those on low and fixed incomes,” the letter adds.

He notes that previous debt ceiling increases included spending controls and suggests some ways Congress could control future spending.

Among them, the debt ceiling bill is associated with major cuts in federal spending; federal targets for expenditure-to-GDP ratios; step up enforcement of previous spending reforms such as Pay As You Go and the Budget Act of Congress; and an amendment to balance the budget.

The letter is signed by the 15 Republicans on the House Budget Committee. It is led by Ranking Members Rep Jason Smith, R-Mo., And includes senior reps Tom McClintock, R-Calif .; Chris Jacobs, IA; Michael Burgess, R-Texas; Lauren Boebert, R-Colo., Et al.

“Congress cannot pull this country out of a budget crisis with a foolish, foolish approach that ignores the unsustainable fiscal trajectory we are on now,” Smith said. “We are already seeing the effects of unchecked government spending on our economy with record inflation driving up the cost of food, clothing and energy for American workers and families.”

It is addressed to the Speaker of the House, Nancy Pelosi, D-Calif .; House Minority Leader Kevin McCarthy, R-California; Senate Majority Leader Chuck Schumer, DN.Y. ; and Senatorial Minority Leader Mitch McConnell, R-Ky.

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McConnell reported in comments to Punchbowl News this week that Republicans are likely to force Democrats, who hold a majority in the House and Senate, to do all the work themselves to raise the debt ceiling.

“I can’t imagine there will be a single Republican vote to raise the debt ceiling after what we’ve been through,” McConnell told Punchbowl. “I can’t imagine a single Republican in this environment we find ourselves in now – this free for all on taxes and spending – voting to raise the debt limit… I think the answer is they have to. say in the reconciliation bill.

McConnell’s comments and Republican messages around the debt ceiling signal that the GOP in at least one problematic area is returning to its pre-Trump-era form.

Republicans took great pleasure in criticizing former President Barack Obama for his large spending initiatives, but then fell silent when the deficit started to rise again under former President Donald Trump.

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Nonetheless, Republicans on the Budget Committee said they believed their proposals could garner “bipartisan bicameral support” and bring more accountability to the country’s finances.

“Based on CBO projections showing an unsustainable fiscal trajectory for our country, it is imperative that Congress does not lose this opportunity to exercise fiscal responsibility and restraint,” the letter said.

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