Not since the Korean War has the federal government reduced spending two years in a row. We aim to make that happen.
— Eric Cantor (@GOPLeader) September 18, 2013
Not only will House Republicans attempt to hold Congress to a continuing budget resolution at month’s end that continues cuts in spending ushered in with sequestration.
House Majority Leader Eric Cantor said today that the Republican leadership will present a plan in the coming weeks to attach defunding of “Obamacare” to the lifting of the federal debt ceiling.
The Congressional Budget Office says that $16.7 trillion ceiling will have to be raised sometime in late October or early November to enable the government to pay its bills for existing spending commitments.
President Barack Obama, addressing the Business Roundtable in Washington this morning, is attempting to enlist support for his appeal to Congress to separate the necessary questions of a continuing budget resolution and debt ceiling increase from the political question of undoing his signature health-care law.
“We’ve got to continue to be tight-fisted” in cutting out unnecessary spending, Obama told the Roundtable. “But, what is also true is if we are going to be honest about our debt and deficits, the real problem is the long-term, not the short-term.” The challenge, he said, is controlling long-term entitlement programs and controlling health-care costs.
There is a faction in Congress “no longer talking about the debt and deficit,” he said. “What we now have is an ideological fight that’s been mounted in the House” that says they will not extend the budget or the debt-ceiling unless they repeal the Affordable Care Act. This is unprecedented, he said.
“This debt ceiling, I just want to remind people — raising the debt ceiling, which has been done over 100 times, does not increase our debt,” he said. “All it does is say, ‘You’ve got to pay the bills you’ve already racked up, Congress.”’
“I am happy to negotiate with them around the budget,” he said. “What I will not do is create a habit, a pattern, where the full faith and credit of the United States becomes a bargaining chip to create policy.”
— Stephen Crowley (@Stcrow) September 18, 2013