Kaine calls out Allen on debt-limit issue
“My chief opponent in this election is a prime example of backward Washington thinking on our budget. During his first term in the U.S. Senate, George Allen voted four times for debt ceiling increases, voted repeatedly against commonsense measures to control spending like PAYGO, and voted for massive deficit spending,” Kaine said. “After years of voting for increased spending without paying for it, Allen had an election-year conversion and decided to stand with the Tea Party in cheering on government shutdown. Virginia chambers of commerce, local governments, and our Republican governor all urged George Allen and his allies to set aside politics and work toward a deal, but they refused.
“Now, Republicans, including Allen, are calling for an approach that would blow a hole in Virginia’s economy,” Kaine said. “Extending tax cuts for the wealthiest Americans that will add to the growing deficits and pledging no new dollars for critical investments represent a return to the same economic approach that helped create this mess. And, new calls for holding our country’s finances hostage are not a path forward, they’re a replay of last summer’s manufactured political crisis that led to a credit downgrade.
“The good news is there’s a better way. Our budget can get thinner, without our economy getting weaker. The approach I advocate would implement two to three dollars in spending cuts for every dollar of new revenue, allowing for critical investments and protecting Virginia’s businesses, localities, military infrastructure, federal contractors and employees, and other sectors from devastating funding cuts. To achieve this, we need to send leaders to Washington who know how to make tough cuts. As Governor, I cut $5 billion in spending, while still making investments in education and infrastructure that helped make Virginia Forbes’ Best State for Business. That’s exactly what I’ll do in Washington.”