[Congressional Record (Bound Edition), Volume 158 (2012), Part 1]
[House]
[Page 100]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1630
                             NATIONAL DEBT

  (Mr. THOMPSON of Pennsylvania asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. THOMPSON of Pennsylvania. Less debt and more jobs, Mr. Speaker. 
This remains our priority as we begin the second session of the 112th 
Congress.
  Our national debt recently surpassed economic output, meaning the 
national debt is now greater than the value of the entire U.S. economy. 
Despite almost $1 trillion of stimulus spending, there's been 35 
straight months of national unemployment averages greater than 8 
percent. These are the facts, Mr. Speaker, yet some are calling for 
more deficit spending and tax increases, and that's just plain wrong.
  The best way to reduce our debt and deficit is to get America back to 
work. Over the last 12 months, this has been the focus of this Chamber. 
The House has passed more than 30 jobs bills, most of which the Senate 
has refused to consider. Next week will mark 1,000 days since the 
Senate has passed a budget.
  Today, the House again has taken the steps to disapprove of further 
raising the debt ceiling. Failure to address even a budget will only 
serve to speed up our downward spiral. Mr. Speaker, there is no way 
around it: Without dealing with the debt, this country's long-term 
economic outlook will remain unclear.

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