[Congressional Record Volume 169, Number 152 (Wednesday, September 20, 2023)]
[Extensions of Remarks]
[Page E868]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             SAVING AMERICA

                                 ______
                                 

                            HON. JOE WILSON

                           of south carolina

                    in the house of representatives

                     Wednesday, September 20, 2023

  Mr. WILSON of South Carolina. Mr. Speaker, Stephen Moore of the 
Committee to Unleash Prosperity provides a daily Hotline 
([email protected]) with very informative research 
on economic issues facing American families. A very thoughtful analysis 
was distributed on September 18, 2023.
       ``House Budget Committee Chair Jody Arrington's [. . . 
     fiscal plan] won't solve our financial problems--but it will 
     stop the bleeding. `The plan reaches a balanced budget in 10 
     years without a penny of new taxes,' said Arrington. `We grow 
     the economy and cut spending.'
       ``The Democrats and Biden are hysterical and threatening to 
     shut down the government to keep the current runaway train of 
     spending over the cliff.
       ``To get a sense of the stakes here, consider that the 
     fastest growing component of the budget over the next 
     decade--other than the Green New Deal--is interest on the . . 
     . national debt. Interest payments, which will soon reach $1 
     trillion, will be like a Pacman swallowing up more and more 
     of the entire budget.
       ``Our ace economist EJ Antoni highlights a troubling trend. 
     Almost $8 trillion of low-interest-rate debt will roll over 
     at much higher rates. Instead of paying 2 and 3% interest on 
     bonds, we will be paying close to 5% and maybe more if the 
     Fed has to raise interest rates again. Biden has created a 
     fine fiscal mess, and it will take years to get out of it. 
     Arrington is right: let's start right now.''
  In conclusion, God Bless our troops, who successfully protected 
America for 20 years, as the Global War on Terrorism continues moving 
from the Afghanistan safe haven to America with open Biden borders.

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