[Congressional Record (Bound Edition), Volume 159 (2013), Part 12]
[Extensions of Remarks]
[Page 18163]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    DEBT MANAGEMENT ACT (H.R. 3579)

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                          HON. KENNY MARCHANT

                                of texas

                    in the house of representatives

                      Wednesday, December 4, 2013

  Mr. MARCHANT. Mr. Speaker, Americans know the national debt needs to 
be addressed. The current debt stands at more than 17 trillion dollars 
and the CBO projects that under current laws the Federal debt would 
climb to 25 trillion dollars by 2023.
  If we continue down this path, the nation will eventually face a 
painful economic reckoning. We can't afford to leave our country--and 
our children--with such unsustainable debt.
  To address these needs, I introduced the Debt Management Act. This 
bill requires the Administration to justify debt limit increase 
requests with reports on the national debt and progress on deficit 
reduction.
  By bringing greater transparency to the national debt and our 
structural deficit, the Debt Management Act establishes a more credible 
and consistent process to address debt limit requests.
  Having a clear policy framework to address the national debt would 
instill much-needed discipline into the debt limit process, increase 
confidence in the economy, and strengthen our nation's long-term fiscal 
stability.
  I encourage my colleagues to co-sponsor the Debt Management Act.

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