Congressman Tom Price (R-GA) issued the following statement in response to Treasury Secretary Geithner’s request that Congress once again increase the federal debt limit. The administration will soon release its mid-year budget review, which could project a deficit of over $2 trillion for this year. The debt limit was last increased as part of the Democrats’ $787 billion so-called stimulus package. A one-page background document on recent votes to increase the debt limit can be found here.

“This request is just another kick in the pants to future generations of Americans who will have to pick up the tab for this administration’s spend-thrift attitude,” said Congressman Price. “Needing a second increase in the debt limit in six months, the President has relinquished any claim to the mantle of fiscal responsibility. Borrowing has costs, yet the White House and Democrats in Congress seem oblivious that someone will have to clean up this fiscal mess. You simply cannot venture on a spending binge like this without a serious economic hangover. If the President thinks we’re feeling an effect of the so-called stimulus now, just wait until repayment comes due.

“Although he feigns concern over the unsustainable deficit spending that he and his fellow Democrats in Congress are implementing, President Obama has absolutely no plan to rein in his skyrocketing deficits. The Republican Study Committee has put forth proposals to truly control Washington spending, eliminate the non-stimulus and TARP spending, and balance the budget. America can overcome any challenge, but we needn’t add ever more debt. The time has come to make the tough choices that are required to put our nation back on firm fiscal ground.”