Leader Cantor Discusses Real Solutions To Spending Problem On CNBC's Closing Bell
January 24, 2013
Contact: Doug Heye, Megan Whittemore
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No Budget, No Pay Provides Time For Robust Discussion On Spending That Will Yield Results: “What it buys us is time for this debate about borrowing and spending to really develop into, what I hope will be, a robust discussion that will yield some results. We know that for almost four years, the United States Senate has not passed a budget, and that's part of the problem that's been contributing to the out-of-control spending in Washington. What we've said is, we will extend the debt ceiling for three months to allow time for the United States Senate to write a budget so we can then begin the discussions on how we are going to repay this money that we're going to borrow, as well as begin to manage down the debt long-term.”

It Is Time For Washington To Start Living Within Its Means: “In the House we're committed to producing a budget that will balance in ten years, and this will be a significant shift from the kind of budget that we have produced before. We're dealing with a new baseline after the cliff deal, and I think there's a growing urgency among the people in the country to say, you know what, it is time for Washington to start living within its means and high time for the federal government to get control of the unfunded liabilities in the entitlement programs, the way so many private sector industries have done.”

Congress Must Make Some Tough Decisions To Increase Confidence & Competitiveness: “As you've reported consistently, there's a lot of liquidity sitting out there on the sidelines waiting to be committed. If we can demonstrate some leadership in Washington, make decisions, finally make some of the tough decisions, I think it sends a great signal. Hopefully, we can see some tax reform come out of this session in Congress. That's a big deal, as you know, for the competitiveness of the country and the confidence level of investors.”