WASHINGTON – House Republican Conference Chairman Jeb Hensarling (R-Texas) issued the following statement today regarding the announcement by Moody’s Investor Service on raising the debt ceiling.
“Today’s announcement, along with the House’s overwhelming rejection of a naked debt limit increase earlier this week, should make it quite clear to the White House that the debt limit cannot be raised until Democrats agree to serious spending cuts and reforms.
“The consequences of defaulting on our debt are clear, but so are the consequences of continuing to spend money that we don’t have. House Republicans, and the American people, strongly oppose raising the debt ceiling without real reforms, which is why we must have spending cuts that exceed the debt limit increase. Anything less would cause more harm to our economy and cost more jobs. The question remains: where does the White House stand?
“In order to restore job growth, rebuild our economy, and end our job-killing debt crisis, the nation needs more than just empty rhetoric from its president. It needs a plan. The basis of that plan is one we should all be able to agree on: we cannot keep spending money that we don’t have.”