Cole Opposes Debt Limit Increase
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) issued the following statement after voting against legislation to increase the debt limit:
"Runaway government spending is bankrupting the country, and the Democrats' response is to raise the debt limit and keep on borrowing and spending. Today's vote increased the debt limit for the sixth time in three years. That kind of spending is simply unsustainable.
"In just three years, the Democratic majority has increased the deficit from $161 billion to $1.6 trillion. Rather than focusing on spending cuts, the Democrats elected to increase the debt limit by 59 percent and enact the same weak PAYGO rules they've routinely waived while driving spending to record levels.
"Congressional Democrats are pushing through such an extraordinary debt increase now in the hopes that they won't have to do it again before the next election. But taxpayers will feel the consequences of this incredibly irresponsible policy for years to come."