Tuesday Nights Debt Ceiling Vote: Cong. John Culberson Hits Hard

Texas Insider Report: WASHINGTON D.C. House Republicans are scheduled to meet with President Obama tomorrow to discuss moving the economy forward.  But in advance of the meeting the U.S. House of Representatives will vote tonight on legislation demanded by President Obama to raise the debt ceiling without any restrictions on spending. Virtually all House conservatives oppose allowing President Obama to borrow more without significant spending reforms. I cannot and will not blindly extend the Presidents credit limit without drastic spending cuts & serious budget reforms."

Congressman John Culberson (R-TX) on tonights debt ceiling vote

Since President Obama came into office over $3 trillion dollars in new debt has been created and we have seen the largest budget deficits in our nations history. Since 2007 when Democrats took control of the House & Senate our national debt nearly doubled domestic discretionary spending rose by over 80 and annual spending rose by nearly $ 1 trillion Culberson said.   After years of reckless spending President Obama and Washington Democrats want Congress to raise the limit on the national credit card once again. Nothing could be more irresponsible. The United States is facing an urgent financial crisis that threatens our fiscal and economic stability. Our government is:

1. Borrowing nearly 50 cents for every dollar we spend.
2. Medicare & Social Security are already paying out more in benefits than they collect.
3. Both are on the verge of bankruptcy years earlier than anticipated.
4. The total unfunded liabilities for the United States are $49.6 trillion.

Paying off this liability would require every American to write a check to the Treasury Department for $159000 said Culberson. Our current fiscal path is unsustainable and threatens the security of our nation. I cannot and will not blindly extend the Presidents credit limit without drastic spending cuts and serious budget reforms. I would urge the President to join me in these efforts and provide our children and grandchildren with the bright future they deserve" commented the Texas Congressman out of Houston.