Lincoln Diaz-Balart: “as we debate this fair rule for consideration of this very important constitutional amendment, I ask the question: Why…”

“as we debate this fair rule for consideration of this very important constitutional amendment, I ask the question: Why is there a very serious financial crisis in Mexico today that we are dealing with precisely in this Congress because of its worrisome effects? Because of lack of confidence by the international financial community on the ability of Mexico to pay on debt that will shortly be coming due. Investors will no longer buy bonds there due to uncertainty regarding whether they will be paid, whether those bonds will be paid when they mature. In other words, when they come due. Now, if our own debt continues to increase indefinitely, even though, for example, even economists like Keynes, who believe in stimulation of the economy through deficit spending occasionally, he never, for example, supported permanent deficit spending. If our debt would continue to grow indefinitely, $4 trillion, $5 trillion, $6 trillion, $7 trillion, theoretically, and then there would one day be doubt as to our creditworthiness, God forbid if that ever happened, who would bail us out, Madam Speaker? Who would bail us out? The International Monetary Fund? No, we pay more into the International Monetary Fund than anybody else? Germany, Saudi Arabia? Who would bail the United States of America out, Madam Speaker? Is it acceptable to depend on other countries to theoretically bail us out? No, it is not.…”