[Congressional Record Volume 157, Number 81 (Tuesday, June 7, 2011)]
[Extensions of Remarks]
[Page E1057]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         AMERICA'S DEBT CRISIS

                                 ______
                                 

                               speech of

                            HON. MARTHA ROBY

                               of alabama

                    in the house of representatives

                         Tuesday, May 31, 2011

  Mrs. ROBY. Mr. Speaker, we face a budget crisis in this country.
  America is broke. Without bold action, our budget situation will get 
worse--not better.
  We also face a severe economic recession. The current national 
unemployment rate is 9.0 percent, and it has been as high as 10.1 
percent back in April 2009.
  With so many Americans out of work, the federal government should be 
doing everything in its power to encourage economic growth, not 
discourage it.
  Cutting spending is critical to creating a pro-growth environment. 
Cutting spending is essential to sustained, free-market job creation.
  House Republicans are the only group in Washington showing leadership 
on this issue.
  We have voted repeatedly to cut spending in the short term. And we 
have passed a budget that would reduce spending by $6.2 trillion over 
ten years.
  By contrast, it has been more than 750 days since Senate Democrats 
even passed a budget.
  Recently, Sen. Reid said: ``There's no need to have a Democratic 
budget in my opinion. It would be foolish for us to do a budget at this 
stage.''
  That is a breathtaking statement for two reasons.
  First, the Senate is required by law under the Congressional Budget 
Act to pass a budget.
  Second, working families across America live within their means 
everyday by following a family budget. It's simple: they don't spend 
what they don't have.
  So I ask: Why shouldn't Democrats in the Senate live by the same 
rule?
  Now the White House is asking us to raise the debt limit. Secretary 
Geithner wrote, ``Never in our history has Congress failed to increase 
the debt limit when necessary.''
  The White House wants a clean increase in the debt limit. That means 
they want Congress to approve more debt without cutting back on any 
spending.
  That is a failed policy. The vote we took tonight is a clear 
indicator that House Republicans reject that approach.
  Our message is clear: We will not vote to raise the debt limit 
without significant reforms that change the culture of spending in 
Washington.
  The American people already owe more than $14 trillion in debt. Much 
of it is owed to foreign nations, some of whom are hostile to American 
interests.
  Allowing the government to take on more debt without cutting back on 
spending is simply irresponsible. Doing so would continue to erode 
America's financial strength and threaten the prosperity for future 
generations of Americans.
  Raising the debt ceiling without spending cuts--akin to simply 
printing more money--would likely cause the value of the dollar to 
plunge and the cost of imports, especially gas and oil, to increase.
  This would result in a significant increase to the cost of running a 
household or a business. The volatility and uncertainty would cause 
businesses to delay investing, growing, and creating new jobs.
  The statutory debt limit was intended as a check on government 
spending. But what good is a debt limit that is always increased?
  Instead of addressing the root cause of the growing debt, past 
Congresses have raised the limit ten times in the last ten years.
  I, like many of my colleagues, were sent to Congress to put an end to 
that.
  Our vote tonight is a tangible sign of the commitment we made to our 
constituents.
  But the truth is that Democrats spent this money. They made this 
mess. They should help clean it up.
  If the White House wants us to consider raising the debt limit, they 
should be at the table proposing significant reforms that yield 
trillions--not billions--in savings to the American people.
  So far, that hasn't happened.
  Tomorrow, the President has invited House Republicans to the White 
House to discuss the debt ceiling.
  His request for a clean increase in the debt limit was rejected 
tonight. I hope that tomorrow President Obama will offer serious 
proposals to cure Washington's addiction to spending.
  No lip service.
  No gimmicks.
  No smoke and mirrors.
  The American people don't want more political posturing. They want 
transformational reform. They want commonsense leadership. They want 
discipline and fiscal responsibility.
  I hope that is what the President proposes tomorrow. I look forward 
to evaluating his ideas.

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