Mike Pence: “Our Nation is facing a fiscal crisis of unprecedented proportions. We have a $14 trillion national debt, a $1.65…”

“Our Nation is facing a fiscal crisis of unprecedented proportions. We have a $14 trillion national debt, a $1.65 trillion annual spending deficit, and we borrow 42 cents for every dollar we spend. After years of borrowing and spending and bailouts by both political parties, now comes a national debate over raising the Nation's debt limit. Now look, I believe if you owe debts, pay debts. We must honor the full faith and credit of the United States of America. But I also believe that now is the moment to take decisive action to put our fiscal house in order and restore the full confidence of the American people in the fiscal integrity of our national government. I believe our debt limit should not be raised without real and meaningful reforms in the way the Federal Government spends the people's money in the short term and the long term. In the short term, we need to cut spending now and implement statutory caps on how much money the Federal Government can spend going forward. But in the long term, the time has come for this Congress to send to the States a balanced budget amendment to the Constitution that will limit Federal spending and require this national government to live within our means.…”