Deborah Koff Ross: “our Nation finds itself today in a financial crisis. This year, our deficit is projected to exceed $589 billion. Last…”

“our Nation finds itself today in a financial crisis. This year, our deficit is projected to exceed $589 billion. Last year's deficit was $412 billion. Seventy percent of that money was borrowed from foreigners, including China and Japan. We are spending nearly $1 million more every 60 seconds than we are taking in in this country. On top of that, we are spending nearly $1 billion a day simply paying interest on the national debt, a debt that today is $7.6 trillion and rising. Yesterday, I joined my colleagues of the fiscally conservative Democratic Blue Dog Coalition to announce a new 12-point budget plan that promotes commonsense budget reforms. One of those reforms includes the support of a constitutional amendment that would require the Federal Government to balance its budget every year. American families strive every month to live within a balanced budget at home. I do not think it is asking too much to hold our government to the same standard. Madam Speaker, I urge my colleagues on both sides of the aisle to join me in support of this 12-point, commonsense budget plan that will place our Nation on a path to restore fiscal discipline to our Nation's government.”