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Though Romney has said little about the debt limit during the general election campaign, he was asked about it during the GOP presidential primary, which was hitting its stride at the height of the first debt ceiling debacle. During those debates, Romney supported the conservative “cut, cap and balance” plan championed by the House Republican Study Committee and conservative Sen. Jim DeMint (R-S.C.).
“The answer for the country is for the president to agree to cut federal spending and cap federal spending and put into place a balanced budget amendment,” Romney said in July 2011. “That, for me, is the line in the sand. ... It is within the president’s power to say to the leadership in the House and the Senate that ‘I’ll cut spending. I’ll cap the amount of spending, and I’ll pursue a balanced budget amendment,’ and if the president were to do that, this whole debt limit problem goes away.”
In one of his campaign’s more awkward moments, Romney has since publicly maligned the debt limit deal — known as the Budget Control Act — which his running mate, House Budget Chairman Paul Ryan (R-Wis.), supported. He has not clearly outlined what he would have done in place of the act, and Democrats have challenged his deficit reduction plan for being light on details.
The Romney campaign did not respond to multiple requests for comment on where the candidate now stands on the issue and whether Romney would push for cuts commensurate with the level of the debt ceiling, as Speaker John Boehner (R-Ohio) had pushed on behalf of his conference in 2011.
Though Romney has strong allies on the Hill — for example, budget wonk Sen. Rob Portman (R-Ohio) — some sources speculated he still could struggle to convince conservatives to trust him, particularly if he needs them to raise the debt ceiling in the first few days of his administration.
When asked if members would trust Romney to work on spending cuts after they raised the debt ceiling, one Senate GOP aide said, “I don’t think anyone will.”
“Maybe the Paul Ryan aspect brings him a little more credibility to Congress,” the aide continued, before noting that conservatives still are skeptical of Ryan’s votes on the budget deal and 2008 Wall Street bailout.
Sources of both parties in the Senate and the House concede that no matter who wins, raising the debt ceiling might be a tricky proposition, and almost all warned that it is difficult to game out a legislative strategy without knowing for sure who will be in the White House or to a lesser extent, in control of the Senate.