Hensarling: Deficit should be solved with spending cuts, not revenue hikes

House Republican Conference Chairman and deficit reduction "supercommittee" co-chairman Jeb Hensarling (R-Texas) reiterated the GOP position on Thursday evening that the deficit problem should be solved with spending cuts, less than one week before the supercommittee is hoping to find some solution that both parties can support.

"The debt is not just unsustainable, it is immoral," he said on the House floor. "And the American people know that it's because Washington spends too much, not because they're under-taxed. The problem is on the spending side."

Hensarling made these comments in the context of supporting a balanced budget amendment to the Constitution, which will come up for a vote Friday.

"The crisis should be solved on the spending side of the equation," he said. "I wish we were debating a spending limit amendment to the Constitution. We're not. We had no takers. I know of no takers on the other side of the aisle."