11:08am

Wed July 13, 2011
Politics

Congressman Lamborn, Gardner Not Phased by Predictions of Financial Disaster

Two Colorado Congressmen are among those digging in their heels over raising the debt ceiling.

Treasury Secretary Timothy Geithner insists that dire consequences would result from a failure to increase the debt ceiling. Congressman Doug Lamborn (R-CO) is among many Republicans dismissing Geithner’s warnings.

He says huge spending cuts, a cap on federal spending and a balanced budget amendment to the constitution are the best way to address the nation’s debt over the long term.

“If we do not change the status quo our country’s in trouble. And I’m not going to stand by and let that happen.”

Cory Gardner (R-CO) says unless deep spending cuts are on the table, he’s not voting to increase the debt ceiling.

“We don’t have a tax problem. We’ve got plenty of taxes; we’ve got a spending problem.”

With a the administration and Congressional leaders at odds on the debt limit, the latest proposal places raising the debt ceiling squarely on the shoulders of President Obama.

Jim Hilgen, Capitol News Connection.