ARLINGTON, Va.–(BUSINESS WIRE)–Since 1940, Congress has voted to increase the debt ceiling nearly 100 times and in the last decade alone, as spending has gotten really out of control, the ceiling has been raised 10 times. Heading into an inevitable budget battle, lawmakers have now taken sides on whether to vote to raise the ceiling again and are working to position themselves as the champions of common sense economics. But who is right?
“It’s time for Congress to make the same tough calls that many Americans have had to make. Congress is out of ‘quick-fix’ options, and needs to get serious about spending reform.”
In this new video, “Beyond the Headlines: Understanding the Debt Ceiling,” Public Notice provides the facts on the debt ceiling so Americans from all political stripes can understand the debate and why it is important for Congress to tackle the disease—overspending—rather than place yet another band-aid on the wound by raising the debt ceiling.
Watch video here.
Gretchen Hamel, executive director of Public Notice, said the following:
“I’m sure if you ask any American facing a financial crisis in their own household, they would likely welcome a quick fix to their problem. But we all know that quick fixes rarely pan out. When a family raises their credit limit, they only dig themselves deeper into the hole. It’s the same with Congress. Raising the debt ceiling may be the short-term, easy way out, but it doesn’t address the fundamental problem of a debt that is spiraling beyond our ability to pay.
“It’s time for Congress to make the same tough calls that many Americans have had to make. Congress is out of ‘quick-fix’ options, and needs to get serious about spending reform.
“Whether or not we should raise the debt ceiling is a secondary issue. The more fundamental question is what got us into this situation in the first place, and how Congress can quickly reign in our out-of-control spending so that we don’t bury the next generation under a mountain of debt.”
Public Notice is an independent, nonpartisan, non-profit, 501(c)(4) organization dedicated to providing facts and insight on the effects public policy has on Americans’ financial well being.
To schedule an interview with Gretchen Hamel, please call Kate Pomeroy at 571-970-6497 or email press@thepublicnotice.org.
