On the recordJuly 19, 2011
I thank the gentleman for yielding time to me. Our country is at a pivotal point in its history. Economists would call this an inflection point. But for those of us who are not economists, it's a critical time; it's a pivotal time. We have to decide, are we going to compete in the 21st century and see this country prosper and lead in the 21st century? Or will we sink in a sea of red ink? That's what it's come down to. I think we need to move forward with a bold plan. We haven't seen anything from the President. He hasn't put anything on the table. We're coming forward with a plan that's credible. It lays out a path, a credible path to get us back to fiscal sanity. $46,000 for every man, woman, and child is what the debt stands at today, and that does not include the unfunded liabilities going to the future, which takes us well north of that figure. We have a lot of work to do. It's time for this Congress to get serious about its responsibility, its responsibility to bring fiscal sanity and fiscal balance back. We have a spending problem. There is clearly a spending problem. But if you look at the two fundamental problems facing the country, it's our unsustainable debt, but it's also the lack of economic growth to create private sector jobs. Now if we take the path that our friends want to take, they're going to raise taxes. They're going to raise taxes across the board. And what you're going to see is a worsening economic situation.…





