On the recordApril 15, 2011
The American people understand that we can't continue to spend money that we don't have. Our national debt has now surpassed $14.2 trillion, and it's on a track to eclipse the entire size of our economy. This massive debt that we are incurring hurts private sector job creation, eroding confidence, spreading uncertainty amongst employers big and small, and discouraging private investment in our economy that is sorely needed in order for us to create jobs. This debt is also a moral threat to our country. In my opinion, it is immoral to rob our children's and grandchildren's future and leave them beholden to countries around the world who buy our debt. We have a moral obligation to speak the truth and to do something about it. Yesterday, we took the first step in beginning to address this massive debt by passing legislation that will reduce our deficit by $315 billion over the next 10 years. It was an imperfect bill, but it was a positive step that has cleared the decks and allowed us to focus on cutting trillions of dollars, not just billions. Chairman Ryan and the members of the Budget Committee have done an excellent job of putting together a budget that's worthy of the American people. This budget will help job creation today, lift the crushing burden of debt that threatens our children's future, and preserve and protect programs like Medicare and Medicaid.…





