Sen. Rand Paul Proposes Alternative to Debt Limit Agreement

Sen. Rand Paul (R-Ky.) introduced legislation on May 30 offering an alternative to the debt limit agreement reached by House Speaker Kevin McCarthy and President Joe Biden.
Paul’s proposal would raise the debt ceiling by only $500 billion, compelling Congress to resolve America’s debt problem with a more permanent solution in the near future. In addition, the measure would impose automatic budget adjustments each year moving forward.
“Sixty percent of Americans say Congress should only raise the nation’s debt ceiling if it cuts spending at the same time. I would guess the Americans answering that poll meant real cuts in spending, not an annual increase of one percent above already bloated levels of COVID-19 spending,” Paul wrote in a statement….