[Congressional Record (Bound Edition), Volume 158 (2012), Part 13]
[House]
[Page 18567]
[From the U.S. Government Publishing Office, www.gpo.gov]




               LET'S REGAIN CONTROL OF AMERICA'S DESTINY

  (Mr. KUCINICH asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KUCINICH. A New Year's deal for New Year's Day--or is it 
Groundhog Day? Because like the movie ``Groundhog Day,'' this 
government in 2 months will arrive at another crisis of debt, of 
spending, and taxes.
  Our debt-based economic system, with its exponential growth of debt 
due to compounded interest, consigns us to massive unemployment, 
threatens the social safety net, a deteriorated infrastructure, a 
psychology of poverty amidst plenty, austerity. Congress must regain 
its full power accorded under the Constitution, Article I, Section 8, 
to coin, to create money, to invest in our Nation interest-free, to put 
America back to work. Why go into debt borrowing money from China, 
Japan, South Korea, when we have the constitutional authority to 
protect our economic sovereignty and to ensure America's long-term 
fiscal health?
  The endless cycle of increasing taxes and cutting spending will not 
work because the debt keeps ballooning with compounding interest. It is 
time for a new American monetary policy to climb out of poverty and 
debt. Reforms are outlined in the National Emergency Employment Defense 
Act, H.R. 2990. It's the NEED Act.
  Let's regain control of America's destiny.

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