House Republicans Ask President Obama To Support Reforms Needed To Solve The Debt Crisis

Today, Rep. Scott Garrett (R-NJ), Tim Griffin (R-AR), and 54 other conservative House Republicans who are members of the Republican Study Committee sent a letter they prepared yesterday to President Barack Obama in support of Speaker Boehner's recent comments on raising the nation's debt ceiling, in which he stated that spending cuts and reforms must be greater than the amount of the debt limit increase. Tying a debt limit increase to common-sense spending reforms, such as "Cut, Cap, and Balance," is a necessary first step to solving our debt problems.

The letter specifically addressed the national debt of $15.735 Trillion (as of June 6th), the debt limit of $16.394 trillion which leaves "less than $700 billion until we reach our borrowing capacity." They addressed the inability or the unwillingness of the financial markets to allow the U.S. "to borrow endlessly."  The pointed out that  China holds nearly 23% of the U.S. foreign held debt and that it is "time to lessen dependence" on Communist China.

They emphasized that "any measure to increase the federal debit limit must be accompanied by common sense policies to immediately cut spending, cap future spending, reform the nation's entitlement programs, and balance the federal budget."

A digital copy of the letter with signatures is available online.  Readers may wish to also encourage President Obama to accept needed reforms to prevent.

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