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Rep. Carter: Use Debt Limit to Enact Fiscal Restraint

 U.S. Representative Earl L. “Buddy” Carter joined Republican members of the House Budget Committee in calling on congressional leaders to include spending restraints and controls to combat rising inflation in the coming debate on the nation’s debt limit.

Carter and his colleagues argue the current limit suspension, which is set to expire on July 31st, provides a critical opportunity for Congress to set the nation’s finances on a more sustainable path.

“We are already seeing the effects of Joe Biden and Washington Democrats’ reckless spending spree with prices rising on nearly everything we buy,” Carter said.  “It’s causing working families to see a pay cut as their paycheck covers less gas, milk, and eggs.  Let’s use this opportunity to come together, institute some real reforms, and get our financial house in order just like small businesses, families, and local governments do every day.”

The letter notes the non-partisan Congressional Budget Office projects the 2021 deficit to total $3 trillion which marks the second highest in American history.  This figure does not account for an additional $3.5 trillion proposed by congressional Democrats in a sprawling budget package announced last week.

For Carter, unchecked spending in Washington is a moral issue that hits close to home.

“I’ve got five grandchildren and another on the way,” he said.  “I don’t want to leave them – or anyone’s children or grandchildren – to suffer under a mountain of debt owed to China.  The time is now to get something done.”

Proposed reforms outlined in the letter include enacting a balanced budget amendment to the U.S. Constitution, tying spending to a percentage of the economy, and prohibiting consideration of new spending legislation which is not offset by cuts elsewhere.