Contact: Matt Lloyd, Press Office for Congressman Mike Pence, 202-226-4379

 

WASHINGTON, June 1, 2011 /Standard Newswire/-- U.S. Congressman Mike Pence appeared on MSNBC's Morning Joe this morning to discuss the debt ceiling and the need for fundamental spending reform. Below is a transcript of his remarks:

 

On the Debt Ceiling Vote

 

"I voted against it, Joe. The American people are tired of this era of runaway federal spending in Washington, D.C. I was glad to see an overwhelming and bipartisan majority reject what the White House had originally called for which was a clean vote on the debt ceiling.

 

"I've been saying for months that I will not support an increase in the debt ceiling without real and meaningful reductions in spending in the short term and the long term. In the short term, you know, the battle's going to look a lot like it did this spring. We're going to battle over the details. But the long term is the real issue here. I really do believe that, as many House conservatives have called for, that we not only need to cut spending, but we need to cap spending and promote policies that will get the economy growing as well. I proposed last year, with Congressman Jeb Hensarling, a constitutional amendment that would cap spending at 20 percent. There are 18 percent proposals. Now is the time for us to demand of this administration, of liberals in the Senate, to come together and say if we're going to increase the nation's credit card, we need to permanently and statutorily, at least, cap spending at a percentage of GDP. That's the only way we can protect this and future generations of Americans from a sea of red ink and a mountain range of debt."

 

On Realistic Cuts

 

"House Republicans passed a budget. We talked about over $150 billion in cuts in the upcoming fiscal year. We can work out those details, but with a $14 trillion national debt, Willie, it's not even a down payment. It's like earnest money on the national debt. What we have to do in this moment is not get caught up...David Malpass has a fabulous piece this morning in the Wall Street Journal on just this point. We can't squander this moment arguing over nickels and dimes. We have to seize this moment to put into law a cap on spending that ties the size and scope of the federal government to the size and scope of the national economy. That's something I proposed over a year ago. It's something Republicans are talking about now with 'cut, cap, and grow.' I think it's the way forward. And I think it's a place where we can find common ground."

 

On Making Fundamental Change

 

"I broke with my party's leadership this last spring with the budget bill funding the rest of the year. I said at the time it was a good deal but it wasn't good enough for me. I think we've got a moment here, Mark, where on behalf of the American people, Republicans and Democrats and this administration can come together and permanently change the way we spend the people's money. I don't think we should squander this moment.

 

"When I was home in New Castle, Indiana, and Indianapolis, Indiana, over the weekend, I heard people saying to me, 'Don't increase the debt ceiling. Don't raise the amount on the nation's credit card without making fundamental change.' And I think we can do that."

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