On the recordJanuary 18, 2012
Permanent structural reforms are needed in Washington. The Nation's debt is now greater than the value of the entire U.S. economy. Nonpartisan economists have noted that a debt to GDP ratio above 90 percent results in a reduction of economic growth. That means that the Obama administration's own economic model could be preventing the creation of nearly 1 million jobs. Over the last 2 weeks, I have talked to many of my constituents in Arkansas' First District, and nearly every person I spoke with told me that we must get our Nation's debt under control. The Federal Government has a spending addiction that is paralyzing our economy. We cannot keep spending money that we simply don't have. We must start living within our means, and we must stop growing our Nation's debt. Fundamental change must come to Washington to force this and future Congresses to live within our means. Both Republicans and Democrats are to blame for the poor fiscal health we find ourselves in, and whether the change is a balanced budget amendment or some other permanent binding measure, both parties must take the steps to prove that this Congress understands that our government cannot continue on its current path. ____________________
Source
govinfo.gov




