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The Republican-controlled U.S. House is looking for spending caps in
any negotiations around increasing the borrowing threshold.
“I do not believe defaulting on our national debt is a prudent
decision for our credibility, or our economic and financial
stability,” U.S. Rep. Darin LaHood, R-Peoria, told The Center Square
in a statement. “However, we must take steps to reduce our debt and
limit out-of-control spending coming from Washington.”
U.S. Rep. Nikki Budzinski, D-Springfield, said the debt ceiling
needs to be increased, but worried the debate could veer toward
spending reductions in areas of taxpayer-subsidized benefits.
“We should be looking at our spending, we should be looking at how
we're spending taxpayer dollars, I want to be a part of those
conversations,” Budzinski told WMAY. “But this future upcoming debt
ceiling debate is really about making sure that our economy can stay
the course and we’re supporting working people.”
House Republicans have laid out a plan LaHood said will address
“spending challenges.”
“And we hope Democrats will work with us to put our country on a
more economically stable path and avoid default,” LaHood said.
Budzinksi worried a default could happen and “drive this economy off
a cliff.”
“I am very concerned about some elements potentially of the
Republican caucus looking to do and holding programs that support
working people like Social Security and Medicare potentially hostage
in this debate,” Budzinski said. “We need to find real solutions to
tackling our spending.”
The nation’s debt ceiling stands at $31.4 trillion and has been
increased about 100 times since World War II.
Greg Bishop reports on Illinois government and
other issues for The Center Square. Bishop has years of
award-winning broadcast experience and hosts the WMAY Morning
Newsfeed out of Springfield.
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