A day after President Obama and congressional members met at the White House to discuss raising the debt ceiling, South Carolina Senator Jim DeMint says the budget right now is heading the country towards bankruptcy. As the August 2 deadline to raise the debt limit inches closer, DeMint says one thing is for sure–
“I can tell you with a lot of confidence that we’re not going to default on our loans if we never raise the debt limit again, and there’s enough assets in the Social Security, Medicare trust funds that they can fund those programs for several years. So, they are going to try to frighten the seniors and say we’re not going to pay the troops. I think that’s irresponsible. They’re going to do everything to avoid a balanced budget amendment because that would eventually change everything in Washington,” says DeMint.
And, DeMint says he’s for that change–
“We need to change everything in Washington because this is not 10 years ago, we can’t take much more debt without bankrupting the country. The president has already proposed adding $10 trillion in new debt. He’s already added more than $3 trillion,” says DeMint.
DeMint says there’s a way the country can start controlling the debt–cut, cap and balance.
“It makes reasonable cuts in spending this year. It caps spending out over 10 years to bring the country to a balanced budget. And, it passes a balanced budget amendment to the Constitution and sends it to the states to ratify,” says DeMint.
DeMint says they are going to try and move the cut, cap and balance bill through the House of Representatives. The senator says there needs to be limit spending in Washington and that’s what he’s fighting for with this bill. He says raising the debt limit is just “playing chicken little” and just covering debt with more debt.