WASHINGTON D.C. (KMOX) — St. Louis Congressman Lacy Clay explains why he voted to increase the debt ceiling. “No one likes everything in this bill, but the country needed to raise the debt limit… that’s why I voted for it.”
In a written statement, Clay said, “It avoids default, maintains the AAA credit rating, and makes responsible spending cuts to both domestic programs and the defense department. The deal also creates a firewall that protects Medicare, Medicaid and Social Security benefits,” which he believes is absolutely necessary.
Clay says he would have preferred a larger package of spending cuts, new revenues and real tax fairness but believes it was necessary as a first-step.
He calls the second part of the compromise…the special committee, vital. Clay said, “Weathly Americans need to put something in the pot too. We can’t balance this budget on seniors, working people, and children. We also need to increase revenues, close loopholes, and allowing the Bush tax cuts for the wealthiest Americans to expire at the close of 2012.”
The congressman points to infrastructure as the next need of the economy saying we still have to invest in people. “Jobs are a much bigger problem than the deficit, and we can’t lose sight of that.” Clay is calling for targeted spending on modernized transportation, public education at universities, community colleges, and trade schools and the energy sector.