On the recordJanuary 29, 2013
I rise to speak about taxes, debt, and spending. It is time for President Obama to show real leadership on the biggest threat America faces to our future prosperity. As my good friend the Republican leader has said: If we don't get a handle on spending and debt, not much else matters. It has now been 1,371 days--almost 4 years--since Democrats, who control the Senate, have brought a budget to the floor and had a vote and passed the budget. Over that time, our national debt has grown by more than $5.2 trillion. Our credit rating has been downgraded because of fears we may not be able to pay back our debt when it is ultimately due, and we have experienced the longest period of high unemployment since the Great Depression. Since the end of the official recession in 2009, Americans' median household income has fallen by roughly $2,500, while the cost of employer-provided family health insurance has increased by more than $2,300--roughly a comparable amount. Not only has income fallen by $2,500 but costs have gone up--thanks to ObamaCare--by $2,300 for the average family. Until recently, passing a budget was considered not optional. It was considered a basic responsibility under the law. In fact, the Budget Act requires that Congress pass a budget each year, but this law has been defied for almost 4 years in the Senate.…
