I thank the gentleman for yielding. Mr. Speaker, this Nation has a debt crisis not because we are undertaxed but because Washington spends too much. And here we are days before the President's August 2 deadline, and the President of the United States has yet to submit a plan to deal with the debt crisis. Here we are days away from the President's August 2 deadline, and the United States Senate has yet to pass a single plan. Days before the President's August 2 deadline, not only have House Republicans passed their first plan, in a manner of hours we will vote yet again on another plan to deal with the debt crisis that we must remember is spending driven. It's the President's spending that brought us here. Now, the bill that we're bringing to the House floor, Mr. Speaker, is not the ultimate solution. But, Mr. Speaker, it ensures that this Nation pays its current bills, like families, like small businesses have to. It gives us the opportunity to actually cut spending. {time} 1720 The amounts are not what they should be, but for the second year in a row, we will have the opportunity to actually reduce spending to save our country and save our children's futures. But most importantly, within this legislation is the opportunity that brings us the ultimate solution, and that, Mr. Speaker, is a balanced budget amendment to the United States Constitution. Every family, every small business, almost every State has a provision that says, we have to balance our budget.…
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Mr. Speaker, I yield 1 minute to the gentleman from Missouri (Mr. Luetkemeyer), the chairman of our Financial Institutions and Consumer Credit Subcommittee.
Mr. Speaker, I yield 1 minute to the gentleman from Illinois (Mr. Hultgren), who is the vice-chairman of our Capital Markets, Securities, and Investment Subcommittee. Mr. Hultgren is the lead sponsor of two provisions of the bill, H.R…
Mr. Speaker, I yield 2 minutes to the gentleman from Michigan (Mr. Huizenga), who is the chairman of our Capital Markets, Securities, and Investments Subcommittee.
Mr. Speaker, I yield 1 minute to the gentleman from Arkansas (Mr. Hill), the majority whip of the committee and also the lead sponsor of H.R. 5783, the Cooperate with Law Enforcement Agencies and Watch Act, and who worked, also…





