Hatch: Why I voted against the debt-limit increase

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Yesterday, I voted no on the debt-limit increase bill in the U.S. Senate. I wanted to share with you a few of the reasons why.

  • No Balanced Budget Amendment: A Balanced Budget Amendment would limit the size of the federal government, and force Washington to live within its means. Without this critical restraint on government, nothing will force Washington to stop passing the buck.
  • Doesn’t Improve U.S. Credit Rating: Moody’s assigned a “negative outlook” to our credit rating after the debt limit was increased. Until we make real strides in reducing our debt, the U.S. credit rating will continue to be unstable.
  • The Budget Never Balances: Even with the cuts in the agreement, the federal budget will never be put on the path to a balanced budget. In fact, our national debt is projected to increase by $7 trillion over the next 10 years.

We needed to make spending cuts of a much greater magnitude, and change the way Washington does business by passing a Balanced Budget Amendment to put our country back on the path to prosperity.

Unfortunately, this proposal fell well short.

 

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Sincerely,

Orrin Hatch

P.S. I’m not giving up the fight to pass a Balanced Budget Amendment, because it’s the right thing to do for our country.

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