Perry Urges Congress Not To Raise Debt Ceiling
WALTERBORO, S.C. (CBS) - Texas Gov. Rick Perry urged members of Congress on Thursday to reject an increase in the debt ceiling requested by President Obama, telling a small audience here that it meant the government would print more money and devalue existing currency.
"The president again went to Congress to ask them to raise the debt ceiling. That means they're going to print more money, they're going to spend more money. The dollars in your pocket are going to be devalued even more," Perry said. "I hope the members of Congress send a very clear message to the president. Not now, not again, absolutely not, Mr. President, we are not going to raise the debt ceiling, we are going to cut spending. Because that's what you have to do in your budgets."
The request is part of an agreement reached in August between the White House and Congress to raise the debt limit to $15.2 trillion while creating a "supercommittee" that unsuccessfully sought to reach a bipartisan deal last fall. The limit was supposed to be raised in three tranches; this is the third.
Perry also railed against the Obama for the second of the increases while on the campaign trail in Iowa last month.
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