[Congressional Record (Bound Edition), Volume 151 (2005), Part 2]
[House]
[Page 2632]
[From the U.S. Government Publishing Office, www.gpo.gov]




       TWELVE POINT COMMONSENSE PLAN TO RESTORE FISCAL DISCIPLINE

  (Mr. ROSS asked and was given permission to address the House for 1 
minute.)
  Mr. ROSS. Madam Speaker, our Nation finds itself today in a financial 
crisis. This year, our deficit is projected to exceed $589 billion. 
Last year's deficit was $412 billion. Seventy percent of that money was 
borrowed from foreigners, including China and Japan.
  We are spending nearly $1 million more every 60 seconds than we are 
taking in in this country. On top of that, we are spending nearly $1 
billion a day simply paying interest on the national debt, a debt that 
today is $7.6 trillion and rising.
  Yesterday, I joined my colleagues of the fiscally conservative 
Democratic Blue Dog Coalition to announce a new 12-point budget plan 
that promotes commonsense budget reforms. One of those reforms includes 
the support of a constitutional amendment that would require the 
Federal Government to balance its budget every year. American families 
strive every month to live within a balanced budget at home. I do not 
think it is asking too much to hold our government to the same 
standard.
  Madam Speaker, I urge my colleagues on both sides of the aisle to 
join me in support of this 12-point, commonsense budget plan that will 
place our Nation on a path to restore fiscal discipline to our Nation's 
government.

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