[Congressional Record (Bound Edition), Volume 150 (2004), Part 19]
[Extensions of Remarks]
[Pages 25456-25457]
[From the U.S. Government Publishing Office, www.gpo.gov]




  PROVIDING FOR CONSIDERATION OF S. 2986, INCREASING THE PUBLIC DEBT 
                                 LIMIT

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                               speech of

                             HON. RON KIND

                              of wisconsin

                    in the house of representatives

                      Thursday, November 18, 2004

  Mr. KIND. Mr. Speaker, I rise today in strong opposition to the bill 
before us today. For the third time in as many years, we are

[[Page 25457]]

debating raising the debt limit because of irresponsible government 
policy. Today, this House will vote on raising the debt limit by $800 
billion, which will bring the debt ceiling to an astounding $8.2 
trillion.
  It concerns me that we need to raise the debt limit because of 
irresponsible fiscal policy such as giving tax cuts to the nation's 
millionaires while our country is fighting a war overseas and my home 
state of Wisconsin is hemorrhaging manufacturing jobs.
  While I understand that it is sometimes inevitable that we must raise 
the debt limit, I believe that such a serious step should be taken in 
conjunction with pay-as-you go rules. I believe our country must return 
to the days of fiscal responsibility with a realistic, workable plan to 
put America back on a path to fiscal security. A first step towards 
that goal is to restore the pay-as-you-go requirements which left 
budget surpluses in the 1990s and enabled us to begin paying down the 
debt.
  We need to start making decisions that will leave our children a 
better country to inherit. As the father of two little boys, I did not 
come to Congress to leave my sons a legacy of debt, hurt economic 
growth, and make this country more dependent on foreign nations, who 
are currently the largest holders of our debt. By 2014, American 
families will pay an additional $9,400 in interest on the national 
debt. That same year, the Social Security Trust Fund will be completely 
depleted if this Congress' reckless fiscal policies continue unchecked.
  I am voting against such fiscal recklessness because there is no plan 
to restore fiscal responsibility in the future as we rapidly approach 
the Baby Boom generation's impending retirement. The American people 
deserve no less than a government that applies the same fiscal 
responsibility that any hard-working American family would in crafting 
a household budget. This Congress has failed to apply such fiscal 
responsibility; therefore, I urge all my colleagues to oppose this 
bill.

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