On the recordOctober 21, 2015
I thank the gentlewoman. I rise today in simple, but strong, support for H.R. 692, the Default Prevention Act. This commonsense bill makes clear that the United States and those who vote on the floor of this Chamber prioritize our debt and our Social Security payments over our reckless government and otherwise irresponsible spending. With this bill, we take the hysteria out of our spending debate and codify the integrity of our Nation's full faith and credit. And I would say, Madam Speaker, that those that appear to oppose this bill really and truly at the end of the day need the hysteria that surrounds this issue to not go away simply so political points around this issue can continue to be made. Now, here is a real scary point, not political at all. Today, as we stand here, our national debt stands in excess of $18 trillion. Yet, according to the Congressional Budget Office, government revenues were $3.25 trillion for fiscal year 2015 alone. With $3.25 trillion revenue coming in, ladies and gentlemen, we do not have a revenue problem. But with $18 trillion in debt, we certainly have a spending problem. We must get to the root of it, and this bill is a responsible step forward. It is a responsible step forward because it truly takes the politics of this debt and this hysteria off the table so that we can see as American people and as a Congress so that we can be exposed to the problems so that we can face it and, ultimately, so that we can solve it.…
