[Congressional Record Volume 169, Number 45 (Thursday, March 9, 2023)]
[House]
[Pages H1216-H1217]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1045
                           RECKLESS SPENDING

  The SPEAKER pro tempore. The Chair recognizes the gentlewoman from 
Oklahoma (Mrs. Bice) for 5 minutes.
  Mrs. BICE. Madam Speaker, today the President will release his 
budget, and I thought it would be appropriate to stand before you to 
talk about how we got here today.
  There has been reckless spending under both Republican and Democratic 
administrations, but let me be very clear: We do not have a revenue 
problem. We have a spending problem.
  What is truly astonishing is that during the course of this 5-minute 
speech, the national debt will increase by $7 million. In the next 10 
years, the debt is predicted to almost double.
  Furthermore, if the debt were divided evenly, each taxpayer would be 
responsible for $246,867 in debt.
  We should have heeded the words of George Washington, who said, `` . 
. . avoiding likewise the accumulation of debt, not only by shunning 
occasions of expense, but by vigorous exertions in time of peace to 
discharge the debts, which unavoidable wars may have occasioned. . . . 
''
  But it is not only George Washington, overall. The Founders generally 
disapproved of debt and believed that the amount the country owed 
should be limited.
  The U.S. national debt has increased by more than $8 trillion since 
late January 2020, the majority of which was under the Biden 
administration. This includes programs like the American Rescue Plan; 
the infrastructure legislation, which was really the Green New Deal in 
disguise; less than half of that funding went to traditional 
infrastructure; and the so-called Inflation Reduction Act.
  We can't continue with the status quo. For FY23, Biden proposed a 
$5.8 trillion budget. The national debt is becoming a leading national 
security concern. Foreign countries, such as China, hold nearly $870 
billion in debt.
  It is Biden's executive orders that have led to increased 
regulations, higher inflation and, ultimately, higher national debt. 
Programs such as the student loan forgiveness program, canceling the 
Keystone XL pipeline, Waters of the U.S., and other executive orders 
that have cost Americans nearly $1 trillion.
  The CBO's Budget and Economic Outlook projects a Federal deficit of 
$1.4 trillion in 2023, an average of $2 trillion annually from 2024 to 
2033.
  The President's budget will double down on failed economic policies 
that have been devastating for millions of hardworking Americans. It 
locks in historic levels of spending on far-left policies and higher 
taxes that will worsen inflation and drive our economy into recession.
  President Biden's answer--creating a culture of dependency that makes 
millions of families more reliant on the government. His approach will 
mean fewer people in the workforce, more people on welfare, and a 
stagnant economy for a generation. We are on the brink of an 
unprecedented fiscal crisis.
  Republicans have a strong vision for the country. It is called the 
Commitment to America. It is built on four main principles: An economy 
that is strong, a Nation that is safe, a future that is built on 
freedom, and a government that is accountable.
  Meanwhile, the Democrats have their own vision for this country, and 
it is weaker: An economy that is weak. The administration has 
significantly constrained economic growth, causing 15 consecutive 
months of 40-year high inflation. Prices for groceries, gas, and other 
household necessities have skyrocketed.
  They propose raising taxes on individuals, families, and businesses, 
which will result in even higher prices, lower wages, and fewer jobs.
  A nation that is at risk; President Biden's budget fails to 
prioritize the safety and security of the American people. It fails to 
adequately fund border security, leaving us vulnerable to crime, gangs, 
and drugs pouring into the country.
  A future that is built on dependency; currently, there are 11 million 
job openings in America, and 5.7 million unemployed individuals. This 
partisan agenda traps people in a cycle of poverty and government 
dependence.
  Lastly, a government that is unaccountable. The Democrats' proposed 
budgets represent a significant expansion of the Federal Government's 
role in our daily lives. It is essential we hold government accountable 
for spending and ensure that taxpayer dollars, yours and mine, are 
being spent wisely.
  There are theories that the rich and corporations don't pay their 
fair share. Businessowners pay taxes in numerous ways, corporate tax, 
capital gains, income tax. The top 1 percent pay 40 percent Federal 
income tax already.
  The SPEAKER pro tempore. The time of the gentlewoman has expired.

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