On Tuesday’s broadcast of the Fox Business Network’s “Mornings with Maria,” Rep. Darrell Issa (R-CA) stated that the debt ceiling needs to be raised but it must be coupled with spending cuts, especially since government revenues will decline when the economy slows down and said that repealing some of the $1.7 trillion in spending in the omnibus “would be a great tradeoff” for increasing the limit.
Issa stated, [relevant remarks begin around 4:10] “Look, spending is out of control. The debt ceiling has to be increased, but there has to be a tradeoff, as there often has been in the past, which is why are we running such a deficit? Because of excess spending. And with recession, revenues of the government will go down. So, even if the Democrats were still in charge, the deficit would increase unless reforms are made. And that’s all Speaker McCarthy (R-CA) is saying is, we of course — we will keep the commitments of the United States government. Full faith and credit will be maintained, but we have to get our house in order.”
He added, “[W]e have to negotiate how we maintain a strong military, meet our commitments to Ukraine and to the other challenges, but at the same time, rein in some of this excess spending. And some of the best might be pulling back some of that 1.7 trillion. That would be a great tradeoff for, in fact, raising the debt ceiling.”
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