The “Cut, Cap and Balance” pledge did not pass the U.S. Senate last week. A strong proponent of the measure, Senator Jim DeMint, says he will continue to fight.
“They wouldn’t even debate it in the Senate. They were afraid of it. They found out that almost 70 percent of Americans were supporting it, and they wanted to just push it aside and go back to behind closed doors negotiating. I’m going to insist that we have some public debate on this stuff. I’m going to insist that we continue with this idea of cut, cap and balance,” says DeMint.
DeMint says he’s not sure what will happen next.
“I don’t know where this is going to put us, but I’m not interested in some backroom deal that’s more smoke and mirrors,” says DeMint.
DeMint says a number of senators are working with House Republicans.
“We’ve got a great delegation. Tim Scott’s been involved with it, and so have the others in South Carolina. They gave the president the increase in the debt limit–none of them wanted but to vote for that. But, they compromised in order to get movement towards a balanced budget, and that’s all we are asking. We’re not asking to balance the budget this year or next year, but to let the states decide whether or not to ratify it, and if they do, it’ll probably take two or three years, and then after that it’s five years before it takes effect,” says DeMint.
DeMint says a deal needs to be worked out soon–or hard times lie ahead.
“We’re in serious trouble. If we act now, I think we can turn this thing around, but if we just give them another $2.5 trillion to spend without something that permanently change this direction–I don’t know what’s going to happen,” says DeMint.
If an agreement is not reached on how and how much to raise the debt limit by August 2–Congress says the country’s budget faces default. But, DeMint says not so fast:
“We’re not going to default as far as our loans and the interest that is due on our loans. We might have to delay payments to government contractors and things like that–which is something we certainly shouldn’t do unless we have to,” says DeMint.
The so-called “cut, cap and balance” bill was passed overwhelmingly in the House–but died in the Senate.