“The only way Republicans’ leverage on the debt ceiling will work is if they’re willing to not increase the debt ceiling,” Americans for Limited Government (ALG) President Bill Wilson declared in a recent plea to congressional Republicans.
He wants them to hold firm on their commitment to attach significant spending cuts to any increase in the nation’s borrowing limit.
Today, Wilson is joining congressional conservatives and other free market and limited government leaders today in a press conference in support of the “Cut, Cap, and Balance” pledge.
ALG and others are concerned that without firm conditions, the current fight over increasing the $14.294 trillion national debt ceiling will only yield token cuts that will fail to rein in Washington, D.C.’s out-of-control spending. The pledge is targeted to all federal elected officials as well as candidates for federal office including the presidency.
“House Republicans gambled big time on the continuing resolution earlier this year, when they had the threat of a government shutdown to use. But that only yielded $352 million in actual spending reductions for this fiscal year,” Wilson noted, warning, “After promising the American people something big on the debt ceiling, they cannot politically afford to fall short like they did in April.”
Wilson believes the debt ceiling is an opportunity for members to redeem themselves in the eyes of the American people. “It’s never too late to do the right thing,” he said.
By signing the pledge, members of Congress are agreeing not to under any circumstances increase the $14.294 trillion debt ceiling — unless the deficit is reduced by hundreds of billions of dollars immediately, spending is statutorily capped to no more than 18 percent of the Gross Domestic Product, and a Balanced Budget Amendment is passed in both houses of Congress and sent to the several states for adoption.
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