On the recordJanuary 18, 2012
I thank the gentleman for yielding, and I appreciate the leadership of Congressman Tim Scott on this very important issue. As South Carolina votes in the Presidential primary on Saturday, our State is grateful for the leadership of Congressman Tim Scott, along with my other colleagues who are on the floor today, Jeff Duncan, Trey Gowdy, Mick Mulvaney. We know that in November of last year, our Nation's annual debt reached $15 trillion and it recently exceeded the value of the entire American economy. Washington's out-of-control borrowing and spending must stop. The President has ignored our Nation's spending problem and once again asked Congress to increase the debt ceiling by $1.2 trillion. This request is a chilling reminder of the out-of-control debt which threatens senior citizens' retirement security and saddles young people with a mountain of debt. The President in February of 2009 said the deficit is unsustainable, but then he proceeded to double the year's debt and has since. Our Nation's unemployment rate has consistently remained above 8 percent for 35 months. This is tragic for American families. Instead of offering solutions to reduce spending and decrease taxes to encourage economic growth, the President and the liberal controlled Senate continue to support legislation calling for massive tax increases and funding for programs that contribute to our growing national deficit, which destroys jobs and hurts American small businesses.…





