Iowa Congressman Tom Latham issued the following statement Monday evening after voting against S. 365, the agreement to raise the nation’s debt ceiling by the largest hike in history:
“While no common-sense American wants our country to default on its obligations or have our credit downgraded, it is our responsibility to draw a line in the sand for fiscal sanity and responsibility and restore confidence in the American Dream.
“I have been very clear in our debate about spending that I will only support measures that meet the realistic approach of immediately cutting wasteful spending, imposing spending caps as a percentage of our economy going forward, and requiring a balanced budget amendment. This debate is an opportunity to stop giving Washington permission in the form of a blank check to continue its irresponsible spending spree well beyond its means.
“This legislation does not do enough to control future spending, and it does not guarantee true long-term changes in how Washington spends taxpayer dollars. And, since it does not meet or exceed the criteria I set forth, I opposed and voted against this legislation.”
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