I come before the floor of the House this morning to talk about the top issue of the Illinois 17th Congressional District, and that is the debt limit. The debt limit has been raised 51 times since 1978. Mr. Geithner has indicated that doing the same thing over and over again is insanity, and I tend to agree with him. Where are we at today? $14.2 trillion in debt. We reached the debt limit on May 16, 2011. Business owners such as myself share a message with people: it is time that we did the responsible thing and come up with some solutions so we stop the continuance of leaving this debt to our kids and our grandkids. As a small business owner, I'm asking President Obama not to balance the budget on the backs of the small businesses across the United States of America. The thing that I understand as a small business owner is that in a downturn economy, the worst thing we can do here from Washington, DC, is raise taxes on small businesses. The reason why, and I use my business as an example is, in a downturn economy, I understand that raising prices on my product when people are already struggling to purchase a product is not the best thing to do. When my taxes go up, I can raise the price or I can let someone go. And, you know, as hard as it is to let someone go, that's what businesses will have to do because people won't be able to afford their product.…
On the recordJuly 12, 2011
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