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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.

The Republican argument that raising the debt ceiling encourages additional future spending is logically irresponsible. The debt ceiling has to be raised to authorize spending already approved by Congress. Despite that fallacy, the GOP has been able to score political points with its argument.

You know, when Republicans were in charge, we doubled the debt. But, now, our concern is the Democrats are in charge and they're tripling the debt. So, really, our concern is that we want smaller government.

Our debt is out of control. What was a fiscal challenge is now a fiscal crisis. We cannot deny it; instead we must, as Americans, confront it responsibly. And that is exactly what Republicans pledge to do.

Remember, Republican economic policies quadrupled the debt before I took office and doubled it after I left. We simply can't afford to double-down on trickle-down.

The Republicans are looking after the financial interests of the wealthiest individuals in this country.

I can tell you if you look at the polls, Democrats, Republicans, Independents, they do not think we should increase the debt limit.

I've criticized Republicans for their lack of fiscal discipline when they controlled Congress before 2007. However, that is no excuse to just continue with more of the same or, as the case is now, to make it worse. Under House Speaker Nancy Pelosi's budget, we will double the national debt in five years and triple it in 10.