From a release out of Sen. David Vitter’s office today…
U.S. Sen. David Vitter today spoke on the Senate floor to discuss his opposition to the debt ceiling deal announced yesterday by the White House and House Speaker John Boehner.
“After careful study since 2 a.m. this morning, when I got a copy of the bill, I’ve decided that I must vote no.
“First, this bill doesn’t much change our spending and debt outlook. The up-front cuts in the first two years are trivial – less than one percent. We’re still adding $7 TRILLION of new debt under this plan. We’re NEVER balancing the budget, NEVER even stabilizing our exploding debt-to-GDP ratio.
“Second, there are no enforcement teeth in this bill – zero, zip, nada. So even these modest spending caps will be busted, sooner rather than later, in my opinion.
“And third, I believe the spending cut triggers will actually help ensure that the select committee does not produce real reform. No deal will be more attractive to the liberals than what’s already in the triggers – deep, deep defense cuts with no real Medicare reform to make that program sustainable. And once those deep defense cuts kick in, there will be bipartisan pressure to bust even the modest overall spending caps in the bill.
“I certainly don’t want a default. But I don’t want a downgrade to our credit rating either. This bill certainly threatens that – with real hurt like higher mortgage and car interest rates for every American family. We can – we must – do better,” Vitter said.