Where Iowans in Congress stand on debt ceiling

By The Des Moines Register

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The Des Moines Register asked Iowa's congressional delegation to respond to questions about the debt ceiling. We asked them to be specific as to what type of deal they would support to raise the debt limit - including only cutting spending, only raising taxes, a combination of both or none of the above. We asked them if they could guarantee programs like Medicare and Social Security would not be disrupted if the ceiling was not raised.

Rep. Steve King was the most specific in his answers, saying he would not support raising the debt limit without cutting spending. Rep. Tom Latham isn't much for specifics, noting that the issue is too difficult to “oversimplify” with “multiple choice quizzes.”

Here are excerpts from their responses:

Rep. Dave Loebsack (D)

“Too many people have drawn too many lines in the sand, but I have made clear to the president and leaders in Congress that our nation's debt problem cannot be solved on the backs of the middle-class and seniors just to protect tax breaks for millionaires and Wall Street. No one can make any guarantees, but I am confident if Congress continues this dysfunctional, uncompromising path, the president will do his best to ensure the interest on our debt is paid, our seniors continue to receive their Social Security checks and our troops are prioritized.”

Rep. Bruce Braley (D)

“Based on input at my deficit town halls, I think a final deal will have to have a combination of spending cuts and revenue increases, but there's no room for absolutes when our economy is at stake. And while I can't guarantee what will happen to specific programs like Social Security or Medicare if we default, no one in Congress can. I do know that our markets and our businesses deserve better than this constant tug-of-war. Make no mistake: this is a big deal - our nation can default, and it will harm Iowa's economy.”

Rep. Tom Latham (R)

“I believe that these issues are just too broad and important to oversimplify the magnitude of this situation with multiple-choice quizzes. . Iowans understand the common-sense principle that if you've maxed out your credit card, the most irresponsible thing you can do is borrow even more money. This debate is an opportunity to make lasting changes to how Washington spends taxpayer dollars. I look forward to judging the final proposal when it is actually a final proposal.”

Rep. Leonard Boswell (D)

“To bring down the deficit and come to a compromise on raising the debt ceiling, Congress must pass a combination of spending cuts and revenue-generating measures. This includes ending tax subsidies for oil and gas companies; letting the Bush-era tax cuts expire for the top 2 percent; and several other tax breaks that go to serve Wall Street and purely corporate interests. Revenue generation by ending tax giveaways to the super-rich and large corporations is the only way to truly spread the sacrifice across-the-board. If an agreement on the debt ceiling is not reached, the administration will determine what government services will be impacted first. Congress does not have the authority to cut checks for Social Security and Medicare recipients, but the congressman will push hard to make sure these services are not the first cut.”

Rep. Steve King (R)

“I will not support any deal to raise the debt limit that does not address the underlying cause of our debt and deficits: out of control federal spending. I cannot pretend to know what kind of deal will eventually be struck between congressional leaders and the White House, but I will not support any deal that does not provide significant relief to the debt being piled upon the taxpayers and future generations of Americans. We know that there will be sufficient revenue coming into the Treasury to pay our Social Security and Medicare bills, but only the president can guarantee that these spending priorities will be paid on time.”

Sen. Tom Harkin (D)

“We must pursue a balanced approach to reducing the deficit that includes both spending cuts and necessary revenue increases, while continuing to make crucial investments in education, infrastructure and research. Cuts should not impede our recovery or be borne disproportionately by working Americans. They should still allow us to invest in our future. Whatever deficit reduction efforts Congress pursues in the near term, my actions will be guided by these principles. No one can make any guarantees. Congressional Democrats have offered considerable concessions to reduce the deficit, avert a default crisis and ensure the continuation of Social Security and other benefits. There is no reason for such a crisis to occur.”

Sen. Chuck Grassley (R)

“I support spending reductions. In just the last two years, government spending has increased 22 percent, not even counting the failed stimulus program. As far as tax increases, President Obama said before he took office that he would hold off on pushing for higher taxes, even though he'd campaigned on them, because the economy was so weak. Raising taxes has been a license for Congress to spend more, and the message from voters last fall was for less government spending, not more. The U.S. Treasury has two ways to make Social Security payments if the debt ceiling is not raised. The first is with general tax revenues. Regardless of borrowing authority, tax revenues continue to flow into the Treasury. In August, the Treasury is likely to receive around $172 billion and have bills due around $306 billion. The president has the discretion to determine how the money is spent, including for Medicare claims. Whether Social Security would be one of his priorities, there are safeguards for Social Security payments.”

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