On the recordAugust 4, 2015
I rise today to speak about seizing the opportunity to drive real economic growth right now. But first, I wish to give a little context by referencing our great Nation's desperate fiscal condition. Decades of overspending by both parties and mismanagement by both parties have led to a crushing $18 trillion of Federal debt. Even more sobering to me is the upcoming over $100 trillion of future unfunded liabilities coming at us like a freight train. We have a fiscal crisis in this country. Everybody can see it. People back home can feel it. As an outsider, my role is to bring a new sense of urgency to Washington to help solve this fiscal crisis. While I am encouraged by the work my colleagues on the Budget Committee completed this year--we completed a balanced budget for the first time since 2001--it was merely a good first step in the right direction. But we have a lot of heavy lifting to do. We must act right now to get our fiscal house in order before it is too late. Yes, we must cut unnecessary spending. Yes, there are redundant agencies and programs that should be eliminated. And yes, we do need to have a national dialogue on how we keep the commitments that were made to our seniors, while saving those important programs for future generations. However, discretionary spending cuts and long-term reforms to mandatory programs alone will not solve this problem. The numbers just simply don't add up to solve this crisis. Economic growth is really the only answer.…
