WASHINGTON—Senator Mike Lee (R-UT) issued the following statement in reaction to President Obama's press conference today on the the upcoming debt ceiling debate:

"I agree with the president that we should not be a 'deadbeat nation' and that we should 'stabilize our debt and our deficit in a sustainable way,'" said Senator Lee, a member of the Joint Economic Committee. "The most balanced and least partisan way to do that is to enact a permanent, structural spending restraint, such as a balanced budget amendment to the Constitution, that requires Congress to live within its means.  It would enable us to protect those who are most vulnerable, such as individuals on Medicare and Social Security, and ensure the viability of those programs for future beneficiaries.  It would also forever remove the possibility of using certain groups, such as veterans and seniors, as political pawns in Washington's budget battles, as well as end the practice of political brinksmanship in self-inflicted crises.  The president says he wants to stabilize our debt, reduce our deficit, ensure we make important investments to improve our economy, and end political gamesmanship. I share his interest in these goals and hope he will join me in pursuing the right spending reforms so that we may achieve them."