George Holding: “Just a week after the debt ceiling was suspended, the Federal Government added $375 billion in new debt. Without a limit…”

“Just a week after the debt ceiling was suspended, the Federal Government added $375 billion in new debt. Without a limit on spending until mid-February, the Federal Government continues to borrow more than it takes in and spend at an outrageous rate. The fact is, Mr. Speaker, at a spending rate of $375 billion a week, U.S. debt would be over $22 trillion by the next debt ceiling deadline. This is unacceptable and unsustainable. Mr. Speaker, the reason we have found ourselves in a fiscal rut is because of outrageous, frivolous government spending. We have to come to the table and do more to cut spending in the next debt deal. This includes comprehensive tax reform to make our Tax Code less burdensome and changes to our entitlement programs to ensure that they are working as they should for future generations. American families know that they cannot spend limitlessly and never pay their bills. Our Federal Government should not be any different, and it is time to break our bad spending habits. ____________________”