The current discussion in Washington regarding the President’s request to once again increase our nation’s debt limit is a timely reminder of the federal government’s consistent disregard for fiscal discipline. Given the importance of this issue, I spoke on the House floor this week about our debt crisis and the need to put an end to Washington’s reckless spending:
Today I rise to address the urgent need to rein in the out of control government spending that has led this nation into a dire debt crisis that is hindering job creation and threatens the very future of our country.
The people of Virginia’s 5th District understand the importance of this issue. I continually hear from my constituents – Republicans, Democrats, and Independents – who say that that if we are serious about turning this economy around and if we are serious about preserving this country for our children and our grandchildren, we must put an immediate end to Washington’s irresponsible and reckless spending.
Our nation is now facing a 14 trillion dollar debt and 1.5 trillion dollar deficit. We are borrowing over 4 billion dollars a day and over 40 cents on every dollar we spend.
And as the President continues to request an increase in the debt limit while remaining steadfast in his call for hundreds of billions of dollars of job-crushing tax hikes, we are reminded of the need to put in place both short and long term fixes that will help restore fiscal discipline in our nation’s Capitol once and for all.
We need to continue to make significant and immediate cuts to reduce our debt and deficit now. We need to put in place spending caps that limit spending as a percentage of GDP. And we need to pass a balanced budget amendment to force the government to live within its means.
Washington has a spending problem, plain and simple, and we must continue to make the tough but necessary choices to get our fiscal house in order so that we can grow the economy, create jobs, and leave our children and grandchildren with an even better and more prosperous America.
To view a video of this floor speech or if you need any additional information on these or any other issues, please visit my website at www.hurt.house.gov or call my Washington office: (202) 225-4711, Charlottesville office: (434) 973-9631, Danville office: (434) 791-2596, or Farmville office: (434) 395-0120.