[Congressional Record Volume 156, Number 105 (Thursday, July 15, 2010)]
[House]
[Pages H5620-H5621]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  IT'S TIME TO CUT UP THE CREDIT CARD

  (Mr. NEUGEBAUER asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. NEUGEBAUER. Mr. Speaker, the Democratic leadership got their 
credit

[[Page H5621]]

card bill yesterday, and it wasn't a pretty picture. The Treasury 
Department announced that the Federal deficit for 2010 hit the 
trillion-dollar mark at the end of June. That's a staggering amount, 
and that's not all. There are still 3 months to go in this year. The 
only time the Federal deficit has ever reached this level was last 
year.
  You know, the American people know, when you hit your spending limit, 
you stop spending, but President Obama and the Democratic leadership in 
Congress don't seem to get it. They've taken the Nation on an 
unprecedented spending spree that's hurting economic growth, slowing 
job creation, and putting an incredible burden on our future 
generations.
  We have a trillion-dollar deficit, but Congress doesn't even have a 
budget or a plan. Running deficits of $1 trillion or more is completely 
unsustainable. We've got to cut up these credit cards and stop this 
reckless spending. It's not just something we should do; it's what we 
have to do. The future of our Nation depends on it.

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