Today we have an opportunity to take action and promote certainty in both our economy and the markets by passing H.R. 2560, the Cut, Cap, and Balance Act of 2012. Moody's and Standard & Poor's have warned the United States that our AAA credit rating is at risk if President Obama does not raise the debt ceiling by August 2. By passing Cut, Cap, and Balance, we can respond with confidence, create economic certainty, get our spending under control, and put America back to work. Mr. Speaker, 6\1/2\ months ago, I left life as a small business man, and have had the honor of representing the constituents of the 17th Congressional District of Illinois. I come to the floor this morning with some observations about where we've made progress and where we've met frustration. During this time, we have seen tangible results. This Congress repealed the onerous 1099 tax provision, which prevents our job creators from being bogged down in a nightmare of paperwork. This Congress cleaned up the mess left by last year's Congress by cutting billions in spending. This House has cut its own office budgets by 5 percent, saving taxpayers $35 million, and later this week, we'll cut our office budgets by another 6.4 percent. Most importantly, this House of Representatives fulfilled its responsibility by passing a budget. This budget cuts trillions of dollars in spending, but more importantly, it puts forth a plan to save Medicare instead of letting it go insolvent.…
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