Congress has a responsibility to ensure that taxpayers’ money is spent prudently. It also has a fiduciary responsibility to future generations to preserve the country’s assets and to pass on a financially sound government and society. It would be fiscally irresponsible for Congress to authorize spending money today for current consumption that it must borrow. It should never borrow money unless it is creating infrastructure and investment that will benefit future generations. Each generation of Americans must pay for its current government consumption. It should not create consumption liabilities that future generations must repay.

It is arrogant and financially imprudent for the president to demand that Congress not place a limit on the debt ceiling. Congress has a constitutional responsibility to approve spending by the government. The debt-ceiling limit is an important tool used by Congress to limit government spending from borrowed money that our children must repay. Congress has a fiduciary responsibility to limit government debt, even if it is politically unpopular. If American voters want to elect a fiscally irresponsible Congress, the Republican Party should not participate. Standing on principal will eventually vindicate the Republicans’ financial prudence if and when a newly elected fiscally irresponsible Congress takes America down the road to bankruptcy.