Last night, the House stood with the American people and rejected the Obama Administration’s plan to raise the debt limit without spending cuts – a plan that would hurt our economy and destroy more jobs. Today Speaker Boehner released a statement signed by more than 150 economists who argue that – to help address our job-crushing, spending-driven debt crisis – budget reforms and spending cuts should be larger than any increase in the debt limit. Read it here:
The statement echoes remarks made by Speaker Boehner and other Republican leaders, and is signed by some of our country’s best economic minds, including two Nobel Prize winners (Robert Mundell, Vernon Smith); economists from schools such as Stanford (Michael Boskin, John F. Cogan, Eric A. Hanushek, David R. Henderson, James C. Miller III, John B. Taylor) and Carnegie-Mellon (Robert Dammon, Marvin Goodfriend, Allan Meltzer); a former U.S. Secretary of State (George P. Shultz); and two former directors of the Congressional Budget Office (Douglas Holtz-Eakin, June O’Neill).
UPDATED @ 10:10 AM: Added Vernon Smith to the list of Nobel Prize winners and signers.