Mike Pence: “I thank the gentleman for yielding. Mr. Speaker, this is a challenging time in the life of our country. Our economy is…”

“I thank the gentleman for yielding. Mr. Speaker, this is a challenging time in the life of our country. Our economy is struggling; millions are out of work; and now, with a more than $14 trillion national debt, America is on the verge of having its debts exceed our statutory borrowing limit. Now, I recognize that if you owe debts, pay debts. Congress has an obligation to defend the full faith and credit of the United States. But this Congress also has an obligation to keep faith with this and future generations of Americans by restoring fiscal responsibility and discipline to our National Treasury. The bipartisan Budget Control Act that we will consider today will make it possible for the Nation's bills to be paid with no new taxes, dollar-for-dollar cuts in spending for every increase in the debt ceiling, and it will give the American people a fighting chance to consider a balanced budget amendment to the Constitution. Now, let me be clear. The Budget Control Act is not so much a good deal as it is a good start. I really believe this bipartisan compromise is a modest but meaningful step in the direction of fiscal discipline and reform, and I welcome it. {time} 1720 Now, while this bill doesn't go nearly far enough, it does move us in the right direction. You know, leadership means knowing when to say yes and knowing when to say no.…”