Greendale's US Legislators React To Debt Deal

The U.S. Senate, on a 74-26 vote, passed an emergency debt plan Tuesday that now goes to President Barack Obama for his signature. 

The plan averts a , though it's been criticized by members of both political parties for not going far enough.

Here's what Greendale's representatives in Washington had to say about the bill:

Paul Ryan: The Budget Control Act represents a victory for those committed to controlling government spending and growing our economy. I applaud Speaker Boehner's leadership in stopping tax increases on job creators, rejecting President Obama’s demands for a blank check to keep borrowing, and advancing real spending cuts and controls. The agreement – while far from perfect – underscores the extent to which the new House majority has successfully changed Washington’s culture of spending. No longer can Washington endlessly spend money it does not have.

"While the immediate debt ceiling issue has been responsibly resolved, a spending-driven debt crisis remains a threat. To lift this crushing burden of debt and help spur job creation, policymakers must advance serious structural reforms to the largest driver of our debt: government spending on health care, including the president’s costly, partisan health-care overhaul.

"The Budget Control Act marks a positive step forward in getting government spending control, but much hard work remains."

Ron Johnson: "After reviewing the Budget Control Act of 2011, I have decided to vote against its passage. Although this bill represents the first time any future spending limitations have been attached to an increase in the debt ceiling, the limitations contained in the bill fall far short of serious budget reform. 

"President Obama requested a $2.4 trillion increase in the debt ceiling. To put that amount in perspective, it took over 200 years for America to incur that level of debt - from our nation's founding to September 30, 1987. Because of President Obama's out-of-control spending, his $2.4 trillion debt ceiling increase will only last until March 2013. At that time, our total debt will be $16.7 trillion - about the same size as the entire U.S. economy. Our debt to GDP ratio will be 100 percent. This is a key measure that signals very real financial danger.

"Unfortunately, President Obama and his Democrat allies in the Senate refuse to acknowledge this danger by agreeing to serious reforms.  Instead, the Budget Control Act will only reduce spending in the first year by $21 billion (0.6 percent of the total budget, and less than 1 percent of the increase in the debt ceiling). The total amount of deficit reduction is $1.6 trillion less than the rating agencies indicated would be required to prevent a downgrade in the U.S. debt rating.

"Last November, the American people sent a very clear message to Washington to get America's fiscal house in order. The fact that we are debating how to reduce the growth of government is a good thing, and the Budget Control Act is a step in the right direction. But it is simply inadequate, and my 'no' vote is my way of acknowledging that we simply must do more."

Herb Kohl: "This plan is a compromise that will put us on the path to debt and deficit reduction. It is far better than what would have been the catastrophe of a default, which would have done enormous damage to every family and business in our state and nation. Once this is behind us, we need to return immediately to the most important job, getting our people back to work and getting the economy back on track."