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Once again, the media is frenzied over this year’s debt ceiling debate – and is insisting that any Republican opposition to raising the debt ceiling is pure recalcitrance. Speaker Kevin McCarthy and House Republicans should emphasize a few key points to win the support of the American people despite the bias of the media.
There are some key principles all Republicans can advocate to show problem solving leadership while they win the debt ceiling debate.
Republicans are for a responsible debt ceiling increase – and oppose an irresponsible debt ceiling increase. Passing another debt ceiling increase with no modifications to the current unsustainable spending and projected deficits would clearly be an example of an irresponsible debt ceiling increase.
The Congressional Budget Office projects current spending would add $15.74 trillion to the deficit from now to 2032. So, it’s clear the current spending model that Democrats have created is totally irresponsible. As CBO has warned since last decade, “the current trajectory of federal borrowing is unsustainable and could lead to slower economic growth in the long run as debt rises as a percentage of GDP.”