WASHINGTON, D.C. – U.S. Senator Jerry Moran (R-Kan.) released the following statement today on the United States government hitting its $14.3 trillion borrowing limit:
“Today our federal government reached its borrowing limit at $14.3 trillion. Now it’s up to Congress to decide whether to raise the debt ceiling for the eleventh time in the last decade.
“The hard truth is our country is broke. Our national debt is the responsibility of several Congresses and presidents – from both political parties – who have allowed us to live well beyond our means for far too long. Simply raising the debt limit without a serious plan to reduce our debt will only continue this pattern of fiscal irresponsibility.
“I have notified the President that I will not vote to raise the debt ceiling without a significant reduction in spending and a change in the way business is done in Washington.This will take the leadership of President Obama and both political parties to craft a serious plan to reduce our debt. The plan must include significant spending reductions, a balanced budget amendment, and reforms to address our long-term unfunded liabilities.
“The time to correct our failures is now. The consequences of failing to tackle our debt will be far greater than failing to raise the debt ceiling. This is not an academic discussion. It is not a partisan discussion. This is about the future of our country, the standard of living Kansans enjoy, and whether or not there is an American dream to be lived by our children and grandchildren.”