[Congressional Record Volume 159, Number 152 (Tuesday, October 29, 2013)]
[House]
[Page H6838]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           DEBT AND SPENDING

  (Mr. HOLDING asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. HOLDING. Mr. Speaker, just a week after the debt ceiling was 
suspended, the Federal Government added $375 billion in new debt. 
Without a limit on spending until mid-February, the Federal Government 
continues to borrow more than it takes in and spend at an outrageous 
rate.
  The fact is, Mr. Speaker, at a spending rate of $375 billion a week, 
U.S. debt would be over $22 trillion by the next debt ceiling deadline. 
This is unacceptable and unsustainable.
  Mr. Speaker, the reason we have found ourselves in a fiscal rut is 
because of outrageous, frivolous government spending. We have to come 
to the table and do more to cut spending in the next debt deal. This 
includes comprehensive tax reform to make our Tax Code less burdensome 
and changes to our entitlement programs to ensure that they are working 
as they should for future generations.
  American families know that they cannot spend limitlessly and never 
pay their bills. Our Federal Government should not be any different, 
and it is time to break our bad spending habits.

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