HOYER: REPUBLICANS’ INCREASE OF DEBT LIMIT IMMORAL

Republican Policies Force Third Increase in Three Years

For Immediate Release:

November 18, 2004

Contact:Stacey Farnen Bernards
202-225-3130

WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today in anticipation of a House vote to raise the limit on the amount of debt America can incur:

“It is ironic that Republicans’ first major action after an election in which they touted their strong sense of morality will be one of immense immorality.

“Republicans’ irresponsible policies have left them no choice but to raise the limit on the amount of debt America can incur.  But there is a choice in how it is raised.

“Congress must tie raising the debt limit to a realistic, workable plan to put America back on a path to fiscal security.  A first step would be to implement the tried and true ‘pay-as-you-go’ policies, which reined in debt in the 1990s and produced the record budget surpluses President Bush inherited from his Democratic predecessor.

“If Republicans do not put in place these responsible policies, they will immorally saddle our children with trillions of dollars of debt that will hinder their ability to invest in their own security and success.”

 

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