Local Lawmaker Questions Limit Raise Without Plan to Reduce Deficits
WASHINGTON, DC – Congressman Adam Schiff (D-CA) issued the following statement regarding this week’s planned increase in the national debt limit:
“The past four years of new spending, new tax cuts, and unbalanced budgets have quickly and dramatically eroded the fiscal responsibility of the 1990s. The Administration has no plan to balance our budget, and Congress will be forced to raise the debt limit ceiling for the third time in three years or allow the Treasury Department to dip into retirement trust funds to cover our nation’s financial responsibilities.”
“The economic security of American families is directly tied to our nation’s fiscal health, and I call upon the Administration and the majority in Congress to reinstate PAYGO rules and commit to a disciplined financial course.”
Earlier this year, Congressman Schiff was named a “Treasury Guardian” by the nationally recognized budget watchdog group Taxpayers for Common Sense Action (TCS Action) for his fiscally responsible voting record in the House of Representatives.
President Bush signed legislation on June, 28, 2002 increasing the national debt limit by $450 billion to $6.4 trillion, and again signed legislation on May 27, 2003 increasing it by $984 billion to $7.384 trillion.
Congressman Schiff is the co-founder of the Democratic Study Group on National Security, a member of the Blue Dog Coalition and a member of both the House Judiciary and International Relations committees. He represents California’s 29th Congressional District, which includes the communities of Alhambra, Altadena, Burbank, East Pasadena, East San Gabriel, Glendale, Monterey Park, Pasadena, San Gabriel, South Pasadena and Temple City.
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