[Congressional Record (Bound Edition), Volume 157 (2011), Part 6]
[House]
[Page 8556]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1220
                      AMERICA'S FISCAL CHALLENGES

  (Mr. WELCH asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. WELCH. Mr. Speaker, this Congress and this country face two great 
fiscal challenges. One is long term, and one is urgent and immediate. 
Long term, we know we have to restore balance to our budget, and 
negotiations are under way in an effort to accomplish that.
  There are significant differences in approach. Do you follow the 
outlines of the Ryan budget, which basically cut taxes for very wealthy 
Americans in the hope that will create jobs and pay for that by 
slashing or ending Medicare? Or do you proceed along the outline in the 
Obama budget which essentially would put everything on the table, 
including the Pentagon and including revenues?
  But either way, the urgent and immediate responsibility is that we 
pay our bills. And either side that engages in a game of chicken with 
the obligation of this country to maintain its full faith and credit is 
playing with fiscal fire and using a loaded gun for a game of Russian 
roulette. That gun is pointed at the heart of the American economy.
  America pays its bills. We must do that and do whatever is required 
in order to maintain our reputation for doing so.

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