[Congressional Record Volume 167, Number 171 (Thursday, September 30, 2021)]
[House]
[Page H5564]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      DEMOCRATS' WASTEFUL SPENDING

  The SPEAKER pro tempore. The Chair recognizes the gentleman from New 
York (Mr. Jacobs) for 5 minutes.
  Mr. JACOBS of New York. Madam Speaker, I urge the Democratic 
leadership to heed the message of Senator Joe Manchin and take a 
strategic pause on the $4.3 trillion reconciliation bill they are 
attempting to pass. To spend this amount of money on top of the nearly 
$6 trillion we have spent on COVID since last March is reckless to say 
the least. We should not forget the long-term debt crisis we are 
facing.
  The graph beside me shows how dire this fiscal outlook is. By 2051, 
as is shown in this chart, the Congressional Budget Office projects our 
debt will reach 202 percent of the GDP. In other words, more than twice 
our annual output. And that does not include the $4.3 trillion the 
Democrats are proposing to spend in this reconciliation package.
  This will far exceed the debt levels even after World War II. As you 
can see in the graph, at the end of World War II our debt fell sharply 
and continued falling for several decades.
  Madam Speaker, this body needs to come together now, just as we did 
back after World War II, to get our fiscal house in order. I know no 
one here wants to see this projection become reality where we will have 
record and unsustainable debt loads for decades and decades to come.
  I urge my Democratic colleagues to end their reckless spending 
proposals and work with us to get our fiscal house back in order. This 
cannot be the legacy we leave for our children and our grandchildren.

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