House Democratic Whip Steny Hoyer (D-Md.) said Congress needs to raise the federal debt limit above its current $14.29 trillion limit regardless of whether spending cuts are made in the federal budget.
At a pen and pad meeting with reporters on Tuesday, Hoyer said, “I hope we can reach an agreement [with Republicans] on the fiscal restraints and bringing the [budget] deficit and the [national] debt down — the debt being long-term, deficits being short-term,” said Hoyer. “If we can’t, I think we need to increase the debt [limit] in any event because America is going [to] pay its bills and I think Americans share that value of fiscal responsibility.”
Hoyer said he agrees with House Speaker John Boehner [that] before this month ends, “we need to do something on extending the debt [limit]. If we can do it with deficit and debt reductions at the same time, fine. If we can’t, we still have no alternative but to increase the debt limit.”
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