ScreamingEagle
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- Jul 5, 2004
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Three potential Republican candidates for president came out against boosting the federal debt limit without substantial spending cuts, raising the temperature in a debate that is quickly becoming a test of Washington's newfound appetite for financial discipline.
Rep. Mike Pence of Indiana and former Republican House Speaker Newt Gingrich on Monday joined former Minnesota Gov. Tim Pawlenty in calling for spending cuts and opposing any increase in the $14.3 trillion debt ceiling without them.
"Congressman Pence does not believe conservatives should support an increase in the debt ceiling unless it is married to very real and significant reductions in spending in the short term and long term," Pence spokesman Matt Lloyd said Monday. Gingrich spokesman Rick Tyler said Mr. Gingrich holds "the same position."
Congressional GOP leaders say a vote to raise the limit is inevitable if the nation is to avoid defaulting on its loans. They hope to formulate a compromise that combines increasing the debt limit with a package of spending cuts.
Mr. Pawlenty on Sunday called on congressional Republicans to block an increase and instead proposed legislation that he said would prevent a U.S. default.
In an interview with The Wall Street Journal, Mr. Pawlenty said Congress should pass legislation that would put interest and debt payments ahead of other federal spending and allow the federal government to pay its creditors as tax revenue flows in. With the surge of tax payments that come in between April and June, that would at least buy time to try to cut spending dramatically, he said.
"This debate about how we're going to restructure spending is inevitable. My view is, let's have it now," Mr. Pawlenty said in the interview. "Let's call their bluff." On "Fox News Sunday," both Mr. Pawlenty and New Jersey Republican Gov. Chris Christie called on Congress to reject the debt-ceiling increase.
New Calls on GOP Side Not to Lift Debt Limit - WSJ.com
Rep. Mike Pence of Indiana and former Republican House Speaker Newt Gingrich on Monday joined former Minnesota Gov. Tim Pawlenty in calling for spending cuts and opposing any increase in the $14.3 trillion debt ceiling without them.
"Congressman Pence does not believe conservatives should support an increase in the debt ceiling unless it is married to very real and significant reductions in spending in the short term and long term," Pence spokesman Matt Lloyd said Monday. Gingrich spokesman Rick Tyler said Mr. Gingrich holds "the same position."
Congressional GOP leaders say a vote to raise the limit is inevitable if the nation is to avoid defaulting on its loans. They hope to formulate a compromise that combines increasing the debt limit with a package of spending cuts.
Mr. Pawlenty on Sunday called on congressional Republicans to block an increase and instead proposed legislation that he said would prevent a U.S. default.
In an interview with The Wall Street Journal, Mr. Pawlenty said Congress should pass legislation that would put interest and debt payments ahead of other federal spending and allow the federal government to pay its creditors as tax revenue flows in. With the surge of tax payments that come in between April and June, that would at least buy time to try to cut spending dramatically, he said.
"This debate about how we're going to restructure spending is inevitable. My view is, let's have it now," Mr. Pawlenty said in the interview. "Let's call their bluff." On "Fox News Sunday," both Mr. Pawlenty and New Jersey Republican Gov. Chris Christie called on Congress to reject the debt-ceiling increase.
New Calls on GOP Side Not to Lift Debt Limit - WSJ.com