But take it from there. The Democratic response, if you will. Well, this is. Here's the truth is that the debt ceiling is something that does not appear in the Constitution. A debt ceiling was a statute enacted, I think it was during the Gingrich time in Congress. And the idea is you can only go so high with the national debt and no higher. And obviously it was an effort to bring home the fact that we've got to keep spending and debt to a reasonable level. (07:59–08:06)
CLAIM
Asserts that the debt ceiling was enacted as a statute during Newt Gingrich's time in Congress.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
