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Cruz: Debt Ceiling Should Be Used To "Mitigate The Harms From Obamacare"

CANDY CROWLEY, CNN: You would agree it's not good for the U.S. not to be able to borrow past where it is? Because at some point it will have to default. How should the Republicans handle the debt ceiling? Do you want, for instance, some faction of the president's health plan to be attached to that in exchange for lifting the debt ceiling? Or because it's so important, should Republicans say we need to lift the debt ceiling?

SEN. TED CRUZ (R-TX) Look, in my view, the debt ceiling, we should look for three things. Number one, we should look for some significant structural plan to reduce government spending. Number two, we should avoid new taxes. And number three, we should look for ways to mitigate the harms from Obamacare. You know, since 1978, the debt ceiling has been raised 55 times.

CROWLEY: So you think that some facet of the president's health care plan should be attached to an increase in the debt ceiling?

CRUZ: The debt ceiling historically has been among the best leverage that Congress has to reign in the executives.

CROWLEY: So, yes?

CRUZ: Yes, yes.

CROWLEY: Okay. And what else should be attached to it?

CRUZ: My point is that there's great historical precedence. Since 1978, we've raised the debt ceiling 55 times. A majority of those times, 28 times, Congress has attached very specific and stringent requirements, many of the most significant spending restraints, things like Gramm–Rudman, things like sequestration, came through the debt ceiling and so the president's demand, jack up the nation's credit card with no limits, no constraints, it's not reasonable to me.

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