On the recordFebruary 7, 2012
Today I rise in support of H.R. 3581, the Budget and Accounting Transparency Act. The first step in treating an addiction is admitting you have a problem. An addict has to be honest with himself before he can overcome his dependence. In that same vein, Washington needs to be honest about its addiction to overspending, and this bill will force Washington to do just that. It will force Washington to be honest, not only with itself but, more importantly, with the American people. By bringing Fannie and Freddie on budget, Washington will be honest that these expensive programs have become the financial responsibility of the Federal Government. By requiring risk to be assessed and accounted for in loans or loan guarantees, Washington will be honest about the gains or losses taxpayers can anticipate. And by requiring every agency to post their budget requests online, Washington will have to be honest with the American taxpayers about where their money goes. A lot of honesty is needed now, Madam Chairman, but a little bit will go a long way in restoring the trust of the American people and the fiscal discipline of Washington. Can we restore the trust of the American people? Yes, we can. Can we restore fiscal discipline in Washington? Yes, we can. Yes, we will, with passage of this bill.
