WASHINGTON, D.C. – Congressman Bob Latta, R-Bowling Green, issued the following statement after voting
for the debt agreement reached by House Republicans and the White House:
"Washington’s conversation in the last seven months has moved a long way, the conversation started
with President Obama wanting a ‘clean’ debt ceiling increase that would have given him a blank check and
ended with cutting spending without any tax increases. This is historic for Washington; this is our
Berlin Wall moment.
"This process has been long and complicated, however, it has established new rules that will produce
greater discipline of Congress with regards to spending and require that any raise to the debt limit be
met with spending cuts greater or equal to the amount of the limit increase. This is done without
increasing taxes.
"Since 2009, deficit spending has increased by $2.7 trillion and yet there are 644,000 thousand
fewer people employed today even after the President’s stimulus, bailouts and massive federal spending.
Our country cannot continue to spend its way to recovery. In order to create jobs, we need a reduction
in government spending, because every dollar spent by the government is a dollar diverted from the
private sector of the economy that creates jobs."
The two-step deal agreed by House Republicans and the White House cuts and caps discretionary spending
immediately, saving $917 billion over 10 years and raises the debt ceiling by $900 billion. In addition,
the bill advances the cause of a Balanced Budget Amendment; it requires Congress to vote on a Balanced
Budget Amendment before the end of the year.
Additionally, Congress this year has cut over $50 billion in spending.