By Cong. Quico Canseco
Texas Insider Report: WASHINGTON D.C. Last week the House of Representatives voted on a so-called clean" debt ceiling increase (H.R. 1954) increasing the amount of debt our nation can carry by $2.4 trillion without any accompanying spending cuts. This vote was not just about the debt although at present every American households share of the debt is over $120000 an alarming figure. This vote was about getting Washingtons spending addiction under control so that private-sector job creation can once again thrive in America.
I voted against against increasing the debt limit because I strongly believe that it is time we cut up the national credit card and force government to live within its means just like American families and small businesses do every day. H.R. 1954 was overwhelmingly rejected by both Republicans and Democrats.
Creating an environment where businesses start hiring again is a priority. Those Texans who have been hit the hardest who have lost their jobs due to the downturn in the economy are ready to get back to work again.
This week 150 economists sent a letter to the President that stated
An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms would harm private-sector job growth and represent a tremendous setback in the effort to deal with our national debt."
It is clear that more debt means more uncertainty and more uncertainty means fewer jobs. Thats why the American people overwhelmingly oppose increasing the nations debt limit. Americans are tightening their belts and prioritizing spending in the family budget they expect Washington to do the same.
On Wednesday I attended the meeting between House Republicans and President Obama at the White House to discuss the spending-driven debt crisis facing the United States. I was looking forward to a discussion with the President about a plan that would solve our debt crisis create jobs and prevent our children and grandchildren from being buried under a mountain of debt.
However no such plan was presented instead President Obama appears wedded to continuing the same borrow and spend policies that have gotten us into this debt crisis in the first place.
We must stop spending money we dont have if we are to get our nation back on a fiscally sustainable path and get our economy back on track and creating jobs.
A former small business owner and lifelong Texan
Congressman Canseco proudly represents the 23rd District of Texas.
