Americans deserve better than House Leadership’s debt ceiling legislation

Republicans reject President Joe Biden’s 80-mph plan to increase our national debt to more than $52 trillion over the next ten years.

That will not, however, have much impact on reducing the need to borrow in order to meet our federal spending this year and in future years. The House Leadership plan proposes to cap federal spending at 2022 levels next year, levels that were inflated dramatically during the COVID-19 experience and still exceed our annual revenues. If we want to reduce our national debt, we must more aggressively address our spending levels.

Congress should reduce its spending to pre-COVID 2019 levels. It may not be the panacea. It won’t solve all our budgetary problems. Those problems are simply too big, resulting from too many years of profligacy.

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