From the Kaine for Senate campaign:
Richmond, VA – As the New York Times reported this morning, Congressional Republicans led by Speaker Boehner are again promising a “standoff” over the debt limit. Earlier this month at a GOP primary debate, George Allen echoed that call for gridlocking government. By pushing policies that are both politically untenable and disastrous for the economy, George Allen and his Republican colleagues are all but assuring a return to last summer's debt ceiling fiasco that lead to credit downgrade and spending cuts that would be disastrous for Virginia's economy if enacted.
In response to renewed calls from George Allen and GOP leaders in Washington for another debt limit standoff, Tim Kaine released the following statement:
“My chief opponent in this election is a prime example of backward Washington thinking on our budget. During his first term in the U.S. Senate, George Allen voted four times for debt ceiling increases, voted repeatedly against commonsense measures to control spending like PAYGO, and voted for massive deficit spending. After years of voting for increased spending without paying for it, Allen had an election-year conversion and decided to stand with the Tea Party in cheering on government shutdown. Virginia chambers of commerce, local governments, and our Republican Governor all urged George Allen and his allies to set aside politics and work toward a deal, but they refused.
“Now, Republicans, including Allen, are calling for an approach that would blow a hole in Virginia's economy. Extending tax cuts for the wealthiest Americans that will add to the growing deficits and pledging no new dollars for critical investments represent a return to the same economic approach that helped create this mess. And, new calls for holding our country's finances hostage are not a path forward, they're a replay of last summer's manufactured political crisis that led to a credit downgrade.
“The good news is there's a better way. Our budget can get thinner, without our economy getting weaker. The approach I advocate would implement two to three dollars in spending cuts for every dollar of new revenue, allowing for critical investments and protecting Virginia's businesses, localities, military infrastructure, federal contractors and employees, and other sectors from devastating funding cuts. To achieve this, we need to send leaders to Washington who know how to make tough cuts. As Governor, I cut $5 billion in spending, while still making investments in education and infrastructure that helped make Virginia Forbes' Best State for Business. That's exactly what I'll do in Washington.”