Resolution to Retain the Debt Limit Introduced in the House

Source: Walter B. Jones (R-NC, 3rd)

Washington, D.C. - October 16, 2017 - (The Ponder News) -- Eliminating the debt limit has long been a cause of liberal commentators, media elites and Washington insiders.  The subject was reportedly broached by Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi at a September meeting with President Donald Trump.  In addition, three Senate Democrats recently introduced legislation to get rid of the debt limit.          

Congressman Walter B. Jones (NC-3) disagrees.  This week, Congressman Jones continued his fight to protect the fiscal future of the United States, and introduced H.Res. 564, which reaffirms the importance of retaining the federal debt limit.  H.Res. 564 states that “removing limitations on the debt would – (A) inappropriately cede Congress’ constitutional authority; (B) remove a critical check on future increases in deficit spending and the national debt; and (C) potentially exacerbate the already unsustainable fiscal position of the United States, and as a consequence, its national security.”

“Eliminating the debt limit is a very troubling proposition,” said Congressman Jones. “America is over $20 trillion in debt, and running $700 billion annual deficits. We cannot keep spending this way.”

“Article I, Section 8 of our United States Constitution explicitly delegates to Congress the power of the purse, including the power over the debt,” continued Congressman Jones.  “The debt limit is a critical tool that Congress can use to check future increases in deficit spending and the national debt.  Doing away with it will only enable the big spenders in Washington and hasten America’s bankruptcy.”

The full text of H.Res. 564 is attached.  Cosponsors include Congressmen Ted Budd (R-NC), Mark Meadows (R-NC) and Thomas Massie (R-KY).

Congressman Jones has devoted his time in service to sounding the alarm about wasteful spending and the rising debt.  He has consistently voted against raising the debt limit and wasteful spending bills.  He is the only member of Congress to vote against every bloated budget over the past 13 years. Over that time the national debt has grown nearly $13 trillion, over $1 trillion a year.