It’s a very simple choice: If you’re going to raise the maximum amount on how much money America is allowed to borrow, there must be structural reforms in order to reduce spending dramatically.
Or else, No Deal, says Virginia Gov. Bob McDonnell.
“The only way that it is appropriate to increase the debt limit,” McDonnell told HUMAN EVENTS, “is if there is a tangible, written, irreversible set of structural reforms in spending in the United States government that makes sure we are on a downward trajectory in spending that will get us to a balanced budget much farther.
“If we don’t achieve those goals, then I don’t see any gain in increasing the debt limit.”
One of those “structural reforms” McDonnell wants implemented is a Balanced Budget Amendment to the Constitution, such as the one that was recently proposed by Senate Republicans.
“I sent that down this year to our legislature, and asked our legislature to pass a Balanced Budget Amendment. The Republicans were for it and the Democrats were against it, but I think there is so little responsibility that Congress places on themselves, that the only way we’re going to get a Balanced Budget Amendment is that the people are going to have to insist on it by a constitutional amendment.”