GOP Rep: Hitting The Debt Ceiling Is An Opportunity To Rein In Spending

Utah Republican Rep. Chris Stewart declared that the fight for the debt ceiling This is an excellent opportunity to reduce government spending.

Appearing on CBS’s “Face the Nation” Stewart said that the main driver of inflation’s rise was government spending. Stewart said that he didn’t want to force the government to shut down, but hoped both parties could find a solution.

“Well, we certainly want to work with [Democrats],” Stewart. “And we hope that they’ll work with us and the president will work with us. Look, I’m not a fan of government shutdowns. I honestly don’t know anyone who is. It doesn’t help. On the other hand, I do want to make this point, it’s so important, look, the reason that we’re dealing with inflation that we are, which has been generational, and it’s worth remembering that it hurts the poorest among us.”

“[T]here will be Republicans who will say, ‘we need to reform, ‘we need to use this as a vehicle to try to put some limits on our spending and our debt and our deficits,’” He concluded.

“And I am one of them. And there are many others who will be, so the question that you’ve asked now is, are those two principles, you know, the fact we need to reform and cut our deficits in our spending, can we reconcile that with at the same time, we don’t want to harm the credit the United States government. That’s our goal. I think Republicans are aligned on that. I hope the president is as well. And hopefully we get to agreement on that.”

This Thursday, the federal government will reach its statutory debt limit. A Let me know On Friday, Treasury Secretary Janet Yellen advised Congressmen that the government should start taking action. “extraordinary measures” to stop the United States from defaulting its debts.

This month’s measures include the suspension of new investments in the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund.

In the meantime, Analysis Committee for a Responsible Federal Budget ruled that the federal budget needs to be reduced by 26% in order to balance it over the next ten years.