Reps. McKeon & Ryan, RCP
Last year, as the federal government approached a limit on how much it could legally borrow, the Obama administration asked Congress to rubber-stamp an increase in the government's borrowing authority without any spending cuts to match.When House Republicans made clear that any increase in the debt limit must be accompanied by an even greater amount of spending reduction, the President insisted that he would not accept a debt-limit deal that did not include large tax increases on American families and businesses.All of this work was made more difficult by the Senate's failure to...