Dem Rep. Kilmer: Spending Reductions in Debt Bill Are ‘Progress’ 

On Wednesday’s broadcast of CNBC’s “Squawk Box,” Rep. Derek Kilmer (D-WA) stated that the permitting reform provisions in the debt limit bill are positive and that the reductions in spending are “progress” on “trying to actually look at some of our long-term fiscal challenges as a nation.”

Kilmer said, “I’ve been in Congress now for several years, it’s rare that I cast a vote that I consider to be a perfect vote. Oftentimes, you’re in the position of holding your nose and voting yes or holding your nose and voting no. The reality is, failure to act would have had catastrophic consequences to the American economy, up to literally millions of jobs lost, a drag on GDP. I think, frankly, there are elements of the law that was just passed that are progress, addressing some of the issues around permitting, trying to actually look at some of our long-term fiscal challenges as a nation.”

He continued, “Frankly, and this was part of the conversation with Jamie Dimon yesterday, I think it is appropriate that we look at reforms to this conversation around the debt ceiling, because what you see, time after time after time is hostage-taking with a scenario where we simply cannot shoot the hostage without having real impacts to the American economy and to the American people. And so, part of the discussion that we had — and Mr. Dimon didn’t speak to whether he supported a clean debt ceiling, what he said was, he thought we ought to nuke it altogether.”

Follow Ian Hanchett on Twitter @IanHanchett


Please let us know if you're having issues with commenting.