On the recordSeptember 29, 2023
I appreciate the gentleman yielding. The short-term stop-gap government funding measure we are debating here today not only keeps our government open, which is very important, it responsibly reduces spending, makes critical reforms to secure the border, and, importantly, contains the text of my bipartisan bill to establish a fiscal debt commission. The Fiscal Commission Act of 2023 now included in this bill will create a commission that proposes recommendations to finally tackle our Nation's unsustainable debt trajectory in the medium and the long term. Furthermore, both Chambers of Congress will be required, Madam Chair, to take a vote on the commission's proposal. With this key provision, Congress can no longer kick the can down the road on the rapidly growing threat of our national debt. Given the bipartisan support of this legislation upon introduction, it is clear that both Republicans and Democrats understand that time is running out. The Federal Government is already spending more on interest on the national debt than it spends on children--something that my colleagues I know are very concerned about because they talk about it. The interest is already nearly more than what we spend on defense, and we are rapidly approaching a point where interest on the debt will be more than Social Security and Medicare.…
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