On the recordJuly 19, 2011
I thank the gentleman for yielding. Mr. Speaker, I rise in support of this bill. It's no secret that our Nation's $14.3 trillion debt poses an extraordinary threat to our financial future, and extraordinary times call for extraordinary measures. The Cut, Cap, and Balance Act would finally end the fiscal uncertainty and force the Federal Government to put the interests of the taxpayers first. Our colleagues across the aisle claim that this plan goes too far by restricting future borrowing, but the reality is that this bill simply caps spending at the same sustainable rates as past generations, about 20 percent of GDP, a post-World War II average. For too long, government has spent the taxpayers into a debt they cannot afford. Cut, Cap, and Balance would show our creditors, our competitors, and the American people that we are willing to make the tough choices needed to restore confidence and growth in the United States. Mr. Speaker, it's time to cut the spending and give American businesses the certainty and stability they need to create jobs.
