On the recordDecember 14, 2010
America's fiscal house is in disarray. Our budget process is broken, and future generations will end up paying the price if we continue to ignore the difficult decisions required to fix this grave threat to our country's fiscal stability. Recently, the National Commission on Fiscal Responsibility and Reform has worked in a bipartisan manner to produce recommendations on how to best address our current levels of debt. While these recommendations may not reflect the beliefs of all Members of this body, I commend the Commission's members for having the courage and the open minds to tackle the problem. At the very least, their recommendations can serve as a starting point for a serious debate on how we can ensure a better life for our children and our grandchildren. Today, spending has reached almost 24 percent of America's gross domestic product, while our revenues were at their lowest levels last year in 60 years.
