"I do see another showdown, in that the philosophy is wrong, in that the idea that we can continue to raise the credit card limit is a mistake," said Poe to a news anchor on a local Houston Fox affiliate on Tuesday. "[W]e will have a lively debate about it. There is going to ba a day of reckoning and that's why we are going to have a lively debate about whether to raise it or not."
"The answer is we should cut spending," continued Poe, recycling talking points deployed by Republicans in the acrimonious debate over whether or not to lift the ceiling last summer. "We have been talking about this and massive spending cuts have not occurred and yet we continue to spend more money."
"Congress needs to shift and quit spending so much money so that we don’t have to raise the debt limit,” he concluded. "We need to pay if off."
Republicans are itching to repeat the debate that occurred in the summer in which they scored major political points and forced the White House into agreeing to deep cuts in spending over the next decade in exchange for lifting the ceiling.
The Budget Control Act that emerged from that fight provided for staggered increases in the ceiling but forces the president to seek the blessing of Congress when the Treasury comes within $100 billion of each set limit. That legislation allows Congress to pass a joint resolution canceling such a request but Obama can veto that resolution.
Obama is expected to make his next request when Congress returns to Washington in late January.