A recent report from a respected Illinois think tank found that within 5 years the State of Illinois will have amassed an incredible $34.8 billion in unpaid bills. This, of course, comes only 1 year after an allegedly temporary tax hike that they were told would help restore the State to fiscal health, but instead has made the State's economy much worse. Yesterday, the CBO reported that, for the 4th consecutive year, the Federal budget deficit will once again exceed $1 trillion. This is a mind-boggling number, and it underlines the need for serious fiscal reforms such as the Cut, Cap, and Balance Act that we passed last year. But, Madam Speaker, I'd like everyone in this Chamber to learn a lesson from my home State of Illinois. We need to learn from the mistakes that they've made. Despite what some people here believe, we can never tax our way to prosperity. Let's heed the warning of the Land of Lincoln and make the tough decisions to break Washington's spending addiction. ____________________
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