On the recordJune 13, 2011
I thank the gentleman from Arkansas for yielding. Mr. Speaker, we are facing some pretty tough times in our country. I remember the days when we had very low unemployment, and if you wanted a job you had multiple offers when you got out of college, and everybody needed you and the economy was thriving. And now we are creeping back up in the unemployment. I remember when we passed an $800 billion spending package out of the House of Representatives--$800 billion--and we were told that if we pass this spending package, unemployment will not exceed 8 percent, and we approached 10 percent. Thankfully, unemployment began to go down, but now it is stalled out, and it is beginning to go up again. What we have is this idea of we need to spend, we need to borrow, and we need to tax our way to prosperity. And what does that do? Well, I will tell you what it does. It raises our taxes, and it just piles burdens on our children and grandchildren--and us. Yes, we all care about our children and grandchildren, but even this generation now is swimming in debt. Think about this: If you combine the cost of the war in Iraq and the cost of the war in Afghanistan, you combine them this year, do you realize that is less expensive than what we are paying just in interest on our national debt? Just in interest. And that is going to continue to grow. As we add more and more debt, that interest is going to continue to get bigger and bigger. And do you know what?…





