Francis Rooney: “Our national debt now stands at more than $15.2 trillion. That amount exceeds the entire U.S. economy. Washington's…”

“Our national debt now stands at more than $15.2 trillion. That amount exceeds the entire U.S. economy. Washington's reckless spending now burdens every child born in the U.S. with a $50,000 share of the national debt. If we don't do something about it now, we will be the first generation in American history to leave our children a nation worse than we inherited. Our skyrocketing debt doesn't just affect our children and their future. It damages our economy and our unemployment rate today. It is a drag on the economy that fuels uncertainty. It hurts our credit rating. It slows economic growth and it prevents job creation. When President Obama took office, he pledged to cut the deficit in half by 2012. After 3 years in office, has he yet to introduce a credible plan to get our deficits under control? No. Instead, under his watch the country has hit three of the highest deficits on record. That is unacceptable. The national debt has grown by more than 4.6 trillion in his 3 years in office. We can't solve our debt problems until we address the root cause of this issue, and that is overspending here in Washington, D.C. In the House, we passed a budget that would put our country on the path to a balanced budget. The Senate didn't pass a budget, they didn't take up our budget. They did nothing. We passed nearly 1 trillion in spending cuts and we are planning to do more this year. The Senate, as I said, has not written a budget in nearly 1,000 days.…”