- Associated Press - Thursday, June 2, 2011

WASHINGTON (AP) — House Majority Leader Eric Cantor said Thursday that Washington must demonstrate it can “put its fiscal house in order” before the country will see the kind of strong economic growth necessary to create new jobs.

Mr. Cantor, Virginia Republican, told CBS’ “The Early Show” that discussions between the administration and Congress on slashing spending are moving along, but more must be done.

Just before the government’s release of the latest employment figures, Cantor said Democrats and Republicans want to “forge some consensus” on spending. He acknowledged that a looming deadline for raising the debt limit puts pressure on all sides, but he said, “You can’t wave a magic wand in Washington” and automatically bring about large-scale hiring across the country.

The government already has reached the limit of its borrowing authority, $14.3 trillion.

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