CNN - Cut Spending, Don't Add More Stimulus

Op-Ed

By Senator Mitch McConnell

Later today, I will sit down with President Barack Obama to discuss his request to increase the nation's debt ceiling, and I will make a request of my own: What, Mr. President, are you prepared to do about the massive deficits and debt that have grown dramatically on your watch?

What Republicans want is simple: We want to cut spending now, we want to cap runaway spending in the future and we want to save our entitlements and our country from bankruptcy by requiring the nation to balance its budget. We want to finally get our economy growing again at a pace that will lead to significant job growth.

The Democrats' response has been a mystifying call for more stimulus spending and huge tax hikes on American job creators. That's not serious, and it is my hope that the president will take those off the table today so that we can have a serious discussion about our country's economic future.

The president claimed last week at a New York fundraiser that he is prepared to bring down the nation's staggeringly high deficit and debt by trillions of dollars, but rather than provide any details, he only listed the things he refuses to cut. This is a problem I hope to raise with him today.

At some point, Democrats need to realize that the reason our nation's debt has skyrocketed 35% over the past two years is that government spending is out of control.

America does not face a debt crisis because we tax too little, but because Washington spends too much. And tax hikes can't pass the Congress. Not only is there bipartisan opposition, the consequences of massive new tax hikes would be fewer jobs.

The president spoke in his weekly address Saturday about wanting to help manufacturers create jobs. But we know that raising taxes on these same manufacturers, particularly in this economy, will have the opposite effect.

The obvious solution is for Washington to make the kind of tough choices in its own budget that millions of Americans have been forced to impose on themselves over the past two years. Yet President Obama and his allies in Congress remain unwilling to concede the point. Once they get their hands on taxpayer dollars, they seem incapable of letting go.

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