Republican members of the House Budget Committee pledged to pay the nation’s bills but vowed not to give President Joe Biden an “unlimited line of credit.”
The latest volley in the war of words over increasing the nation’s debt ceiling came Feb. 8 as Republican committee members, led by Chairman Jodey Arrington (R-Texas) issued a statement of intent the day before the committee’s first meeting.
“We must ‘reverse the curse’ of deepening deficits and debt by addressing the underlying reason that we are having to raise the debt ceiling to begin with: uncontrolled federal spending.”
Blank Social Security checks at the U.S. Treasury facility in Philadelphia, Pa., on Feb. 11, 2005. (William Thomas Cain/Getty Images)
Also on Feb. 8, the Congressional Budget Office (CBO) reported that the nation’s budget deficit for the first four months of fiscal year 2023 had reached $459 billion, a 77 percent increase over the previous year….