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Lindsey Graham On Debt Reduction: If We Don't Have A Plan, 'All Of Us Should Be Fired' (VIDEO)

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Sen. Lindsey Graham (R-S.C.) has drawn his line in the debt-ceiling sand for Congress. Find a way to raise the limit and cut costs, or face consequences.

In a Sunday appearance on CNN's "State Of The Union," host Candy Crowley asked Graham where he stood on the idea of a partial or full government shutdown in response to Washington's spending habits.

"I believe we need to raise the debt ceiling," Graham said, but added that if that raise did not come without a plan to reduce the deficit, "all of us should be fired."

South Carolina's senior senator cited burgeoning costs that will arrive over the next two decades, adding that he would need a concrete budget in order to support another raise of the federal debt limit.

"Our Democratic friends haven't passed a budget in three years, contrary to the law of the land, and why raise money and spend it if you don't have a budget," Graham said. "So a dollar for dollar offset and a budget I think are two conditions to raising the debt ceiling."

Graham's comments came 24 hours after President Barack Obama used his weekly Saturday address to reiterate that he "will not compromise" on lifting the federal debt ceiling.

"If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic," Obama said. "Our families and our businesses cannot afford that dangerous game again."

Back in July 2012, lawmakers reached a deal to fund the government through 2013's first quarter. The agreement came nearly one year to the day that Congress narrowly escaped its 2011 deadline, avoiding the United States' first-ever government default.

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