On the recordMarch 2, 2011
I rise to support this continuing resolution. As we know, the Senate is set to pass a short-term funding bill, while negotiations continue on a longer term funding bill for the rest of the year. The administration has presented us with a request also to fund the government next year and is expected to ask for an increase in the Federal debt ceiling. This legislation cuts about $4 billion. Up against our annual deficit or the total debt, it is but a microdrop in the budget. The Federal Government is on track to spend about $3.7 trillion this fiscal year, while taking in only $2.2 trillion in revenue. If we compared this to a middle-class example, it would be as if someone was spending $37,000 a year, with an income of only $22,000. Replace 'thousand' for 'trillion' and you get a good idea of how fiscally irresponsible the Federal Government has become. We have a $14 trillion debt and, as we all know now, we are borrowing 40 cents of every $1 we spend. Clearly, there is a growing danger in the country from tremendous debt and runaway spending. It is this resolution that will help in a very small way to put us on a better track. I encourage us to use a multipronged approach as we move forward. We need to reverse the current spending trend of the Congress. We need to address long-term obligations and put statutory backstops into place to make sure it will be very difficult for future Congresses to do what past Congresses have done.
