- Limit
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- Nov 07, 2020
Debt Limit Quotes
Sayings on borrowing, budgets, and fiscal limits.
These debt limit quotes describe the recurring political ritual of raising it, often tied to demands for a Balanced Budget amendment or deeper spending cuts.
- Last Updated on May 30, 2021
- Balanced Budget
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- Nov 07, 2020
I would vote to increase the debt limit if there was a corresponding level of cuts. And if there was some serious talk about a balanced budget amendment, which we as governors always had to deal with.
- Legal
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- Nov 07, 2020
The United States has never prioritized or failed to pay any obligation when due during a debt limit impasse. Despite the institutional risks and the lack of clear legal authority, we assume that Treasury will attempt to prioritize payments in a last-ditch effort to avoid default.
- Debt
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- Nov 07, 2020
Raising the debt limit on some levels is a ministerial act. It doesn't involve any new spending.
- Limit
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- Nov 07, 2020
Historically, the responsibility for voting on the debt limit has gone to the party in the majority.
- Process
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- Nov 07, 2020
But the debt limit obviously is something that needs to and will be passed. That is not inconsistent with a process and a belief that we have to get significant deficit reduction.
- Good
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- Nov 07, 2020
My point is cutting spending shouldn't be reliant on the debt limit though. It's something we have to do. The good news for America is, leaders in both parties, the president, believe that we have to have significant deficit reduction. So the intent is there. And I think what America is going to demand is that our leaders come together.
- Credit Rating
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- Nov 07, 2020