Jeb Hensarling: “The American people want more jobs and they want less debt. The American people are telling Washington, you have got to…”

“The American people want more jobs and they want less debt. The American people are telling Washington, you have got to quit spending money you don't have. You have got to quit borrowing 42 cents on the dollar, much of it from the Chinese, and then send the bill to our children and our grandchildren. Our crisis today is not the debt ceiling, it is our debt, and it is a spending-driven debt. That is why we are here today, Mr. Speaker. I would like to say that this bill solves our problem. It doesn't. It's a solid first step. Nobody, nobody on our side of the aisle wants to increase this debt ceiling. It's not in our DNA. But we do believe that ultimately you ought to stay current on your bills, and you have got to quit spending money you don't have. And in this bill, although the sums are very, very small, when we pass this bill, if the President signs it into law, it will be the first time in my lifetime, the first time in my lifetime that for 2 years in a row we have actually cut discretionary spending in Washington, D.C., and made a very slight directional change in the right direction. The numbers are small, the directional change is huge, but more importantly, Mr. Speaker, the seeds of the ultimate solution are planted in this bill, and that is the balanced budget amendment to the Constitution. The American people aren't looking for a balanced approach; they are looking for a balanced budget. To have it work, it needs to be enshrined in our Constitution.…”