On the recordSeptember 14, 2011
I thank the gentleman from the great State of New York, Representative Reed, for recognizing me, but most of all for bringing this resolution. I support it, and I urge everyone here to support it. As you may remember, it was a two-step process when the debt ceiling was increased: an initial $400 billion immediately to avert the possibility of a default. That has been done. But an additional $500 billion will not go out if this resolution passes. I think we need to slow down and take a look at our spending before we commit another trillion dollars of debt. We did reduce next year's budget by, I believe, $31 billion over last year. That's a good step. That's a step in the right direction, but it's only a small step when you realize that this year's deficit is $1.3 trillion. So $31 billion is only a small step in the right direction. So this would give us more time and seriousness of purpose to look at additional savings. So with that prospect in mind, I would urge my colleagues to support this resolution. Let's slow down the adoption of an additional half trillion of debt. I urge support.
