Jeb Hensarling: “I do want to speak in favor of the McHenry amendment. I think it is a vitally important amendment that we debate on this…”

“I do want to speak in favor of the McHenry amendment. I think it is a vitally important amendment that we debate on this House floor today. Maybe the dollar amount is modest; the principle is huge. This is a body that spends too much of the people's money, and it has repercussions. And no matter how intensely our friends from the other side of the aisle want to prevent us from painting a picture for the American people on where their spending is leading, we feel compelled to speak out. Mr. Chairman, already this body is spending over $23,000 per American household. In real terms, it's one of the greatest amounts since World War II. Every appropriations bill that has come to the floor, practically every single one is spending more money than last year, way beyond the rate of inflation and beyond the ability of the family budget to pay for the excess in the Federal budget. So, now we have an Agriculture appropriations bill which is almost 6 percent above last year. I assure you, the American people didn't get a 6 percent raise, those who are expected to pay for it. And beyond the 6 percent increase, the bill expands mandatory spending. Now, supposedly PAYGO is supposed to apply to this, but it doesn't because we have a PAYGO loophole. And this is a big, big loophole, Mr. Chairman. And we need to pay attention to more mandatory spending.”