The New York Times reports this morning that Republicans may double back on their promise to cut domestic spending in one year from $100 billion to a figure as low as $50 billion, but Sen.-elect Rand Paul says that goal is not ambitious enough.
“The debt problem is enormous,” Paul said today on ABC’s Good Morning America. “So, $50 billion is not enough to scratch the surface. We have to find much, much more.”
Paul said that regardless of reports, his sense is that new congressmen will be steadfast in pushing the leadership toward a goal closer to the campaign promise made in the Pledge to America - $100 billion. “We have to at least do that,” he said.
Paul said senators might also push back against efforts to raise the debt ceiling, which he said should be linked with a balanced budget amendment. His father, Rep. Ron Paul, was also interviewed and went much further. In rebutting the administration’s chief economics advisor, Austan Goolsbee, who warned on ABC’s This Week Sunday that not raising the debt ceiling could be “catastrophic” to the economy, Ron Paul argued that “not raising the debt limit is admitting that we're in default and cheating people all the time.” A crisis, he said, would serve as an incentive for significant cuts, causing lawmakers to stop and think about spending. “We just can't keep bailing out everybody by printing the money and pretending we're not defaulting,” he said.
“Nobody wants to shut government down,” Sen.-elect Rand Paul argued. “What we want, though, is not to give up and say, oh, just do whatever you want, like it's always been.”