[Congressional Record (Bound Edition), Volume 156 (2010), Part 8]
[House]
[Page 10878]
[From the U.S. Government Publishing Office, www.gpo.gov]




                               MORE DEBT

  (Mr. PITTS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PITTS. Mr. Speaker, last week the President's chief budget 
adviser, Peter Orszag, said that the administration was unwilling to 
send a package of deficit-reducing budget cuts to Capitol Hill. Even 
though the President's party is in control of both Houses, Orszag 
didn't think administration budget recommendations would be considered.
  Just a few days later, however, the President announced that he wants 
Congress to pass a $50 billion bill to bail out States, regardless of 
whether that spending increases the deficit. So the administration is 
perfectly willing to dictate to Congress that we should increase our 
already burdensome national debt, but wholly unwilling to recommend 
sensible cuts to existing government programs. We just can't go on like 
this.
  This week, Greece just had another debt rating agency slash their 
bond rating to junk. Now Europe is putting together a bailout package 
for Spain. Italy, Ireland, and Portugal may not be far behind. The 
warnings are numerous, but I fear that they are being ignored. We have 
to get control of our Federal budget or there is not going to be anyone 
big enough to bail us out.

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