On behalf of more than two million Americans for Prosperity activists in all 50 states, I urge you consider real reductions to federal spending in your negotiations over raising the nation’s debt ceiling. This provides a critical opportunity to refocus the national discussion onto our out-of-control federal spending.
According to estimates from the Treasury Department, the United States will meet the $16.7 trillion debt ceiling in the middle of this month, likely around October 17. Senate Majority Leader Harry Reid is currently promoting legislation that would suspend the debt limit until Dec. 31, 2014. His proposal would be a so-called “clean” increase; it includes no provisions to solve the underlying spending problem. According to early estimates, this would increase federal borrowing authority by approximately $1.1 trillion.
The very fact that we have to raise the debt ceiling is symptomatic of a more significant problem — Washington’s spending addiction. Senator Reid’s irresponsible proposal fails to address this critical issue. In order to fix our budget we must address long-term entitlement programs and restore fiscally sanity in Washington.
The only responsible option is to pair any debt ceiling increase with real spending cuts matching the size of the increase. These one-for-one spending reductions will begin to put our federal budget on a path to balance.
I encourage you to read AFP’s report on ways to cut spending.
Americans for Prosperity urges you and your colleagues to seek spending cuts in concert with raising the debt ceiling, and we look forward to working with you in the future.
Christine Harbin Hanson
Federal Affairs Manager
Americans for Prosperity