Tags: Economic- Crisis | Obama Budget | Republicans | Debt | limit | deal

Some Republicans Regret Debt Limit Vote

By Newsmax Wires   |  

Many congressional Republicans compromised on the debt ceiling last year, agreeing to raise it so the U.S. government would avoid defaulting on its debt. But some of those compromisers now regret their decision, The Hill reports.

That’s because the debt ceiling accord led to the creation of the deficit reduction supercommittee with the stipulation that if the committee failed to come up with a deficit reduction plan, automatic domestic and military spending cuts would ensue.

The supercommittee failed, and now the GOP members of Congress are worried about $500 billion in automatic defense spending cuts.

House Armed Services Committee Chairman Buck McKeon, who supported the debt limit deal, told The Hill he would “strongly consider” voting against it if there was a chance to do it all over again.

“I voted for it because I was told the supercommittee couldn’t fail, because sequestration was so bad that they would have to come together on that,” McKeon said. “Well, obviously it didn’t work, so now we find ourselves in a very difficult situation. Can I go back, knowing what I know now, and change my vote then? We don’t get that luxury around here.”

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