Tim Walberg: “We're broke, and that's really not the legacy that I want to leave Micah and Claire, my grandkids. More unrestrained…”

“We're broke, and that's really not the legacy that I want to leave Micah and Claire, my grandkids. More unrestrained spending and tax increases will only slow our economy and make our fiscal problems worse. Raising the debt ceiling without significant reform is not a solution. It's a gimmick. We have to get our spending under control; and Cut, Cap and Balance is a path to fiscal responsibility. Mr. Speaker, this year alone the Federal Government will spend twice what it spent just 10 years ago, and more than 40 percent of it is borrowed money. We will have accumulated more debt in the past 2\1/2\ years than we did during the Presidencies of Washington through George H.W. Bush. That's right. It took 41 Presidencies to spend what we have spent since 2009. We've got to stop spending money we don't have. It's causing the private sector to sit on the sidelines, take fewer risks, and create fewer jobs. And that's what it's all about, isn't it, growing the economy, creating jobs? The Cut, Cap, and Balance Act automatically saves $111 billion in 2012 and around $5.8 trillion over the next 10 years. It includes enforceable caps on spending that will bring the size of government back to below 20 percent of GDP. And the legislation cuts up the government's credit cards by passing a balanced budget amendment. Cut, Cap, and Balance will create a future of better opportunities for our children, Micah and Claire, my grandkids.…”