On the recordJuly 11, 2013
Madam President, let me say at the outset on this debt limit issue that we have been told by everyone here that the debt limit is not going to be dealt with; they don't intend to deal with it; that, in fact, we have rules in place that prohibit that from happening. So if the intent is to say we are not going to deal with the debt limit, why not just put it in writing? Why not just agree to it? I think it raises suspicion that they refuse to take the debt limit off the table in writing in a specific motion, even though they told us that is not the case. But I want to raise a couple of points in regard to all this debate we are having. We heard a lot of debate about the impact of the sequester on this country. I do not dispute that it will have an impact. In fact, I voted against the deal that actually gave us the sequester, and I voted against it because, while I believe deeply we need to constrain spending because we are spending a lot more money than we are taking in, about $1 trillion a year more than we are taking in, borrowing about 40 cents of every dollar we spend in the Federal Government--for the folks visiting here in the gallery, you may be shocked to hear that. Every dollar the Federal Government spends, 40 cents of it is borrowed. When you borrow it, that means you have to pay it back with interest. That is your money. That doesn't come from a tree. That is money taxpayers are eventually going to have to come up with.…





