James Kwak tells it like it is

From Eric Cantor, Deficit Hawkoprite

Eric Cantor, House Republican Majority Leader, said the Republicans will demand spending cuts in exchange for the votes necessary to raise the debt ceiling.

Eric Cantor, member of Congress, voted for:

The 2001 tax cut
The 2003 tax cut
The 2003 Medicare prescription drug benefit
The 2010 tax cut

In other words, of the big five budget-busting measures of the past decade, the only one he didn’t vote for was the 2009 stimulus. In other words, he had the opportunity to vote for $3.1 trillion of the 2011 debt, and he voted for 75 percent, or $2.3 trillion — just like most Republicans who were in Congress for those five votes.

For explanation and sources, see this post.