John Culberson: “in our personal lives, when we have our credit cards topped out, when we have a second mortgage on the home, we quit…”

“in our personal lives, when we have our credit cards topped out, when we have a second mortgage on the home, we quit spending money. We balance our own personal budget and we focus on the essentials. And this Congress needs to do the same thing. But, unfortunately, the Obama-Clinton-Pelosi Democratic leadership of the Congress is driving America's economy right over the cliff, like Thelma and Louise, spending money and raising taxes. The Comptroller of the United States has certified that we are in a $54 trillion hole; that in order to pay that off, every American would have to write a check for $175,000. This is outrageous. It is unsupportable. We need to adopt Frank Wolf's legislation with Mr. Cooper, making sure that Social Security is solvent, that we balance the Federal budget as rapidly as possible. Above all, this Congress has got to quit spending money on unnecessary things, focus on the bare essentials and quit raising taxes on the American people. Above all, let's not shift all of that liability that is now apparent on Wall Street, this $1 trillion writeoff that the banks are attempting to shift on to the United States Treasury. We cannot do it. We have got to quit spending money and balance the budget.”