[Congressional Record Volume 168, Number 101 (Tuesday, June 14, 2022)]
[House]
[Pages H5491-H5492]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       RETURNING TO FISCAL SANITY

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Virginia (Mr. Cline) for 5 minutes.
  Mr. CLINE. Mr. Speaker, I rise to discuss the chilling state of the 
American economy. The stock market is tanking. The American people know 
what a disaster President Biden and the majority's economic policies 
have been, and they are acting accordingly and expressing the lowest 
consumer confidence in a record 50 years of data.
  Pumping trillions in spending through this body, including the so-
called American Rescue Plan, has, in large part, caused a 40-year high 
in inflation as the CPI rose to 8.6 percent in May.
  The Nation is $30 trillion in debt, and the CBO predicts $1.6 
trillion in deficits over the next decade. The Federal Reserve will be 
forced to continue to raise interest rates, further exacerbating the 
beleaguered economy.
  Gas prices are at $5 a gallon, due to the President's assaults on 
American oil drilling and fracking and domestic energy exploration, and 
the Green New Deal priorities of the majority and this administration 
are exacerbating the energy crisis.
  As The Wall Street Journal recently asked: Has anyone, other than 
unsuccessful green energy subsidy firms, benefited from the Biden 
economy?
  What is more, the President's $5.8 trillion tax-and-spend budget is 
fiscally irresponsible. Biden's budget cuts $428 million in Customs and 
Border Protection's budget in the midst of a border crisis.
  It skyrockets Federal spending by a third, compared to prepandemic 
levels, calls for $2.5 trillion in tax hikes, and sets this country on 
a course of extended fiscal doom at a time when we are currently on the 
precipice of a recession.
  The American economy cannot sustain a Federal Government that is

[[Page H5492]]

vacuuming tax dollars out of the pockets of the private sector at a 
record pace.
  Still, today, the majority will not even propose a budget, much less 
one that achieves balance, and instead, funds the government and 
inflates the currency through massive omnibus bills and continuing 
resolutions.
  We need to return to regular order in this House and return to fiscal 
sanity to rescue this economy from a recession that looms large in what 
is likely to be a long, hot summer for millions of American families.

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