Kevin Brady: “Members, America is undergoing a terribly subpar recovery, one of the worst we've seen; three times worse of an economic…”

“Members, America is undergoing a terribly subpar recovery, one of the worst we've seen; three times worse of an economic recovery than under President Reagan, a worse recovery than even what President Obama promised us when he spent all those hundreds of billions of dollars of the stimulus money. We have 13 million Americans out of work. Our unemployment rate is sky high. And the only reason it's come down a little is that we have fewer people working in the workforce than we have had for a quarter of a century. One of the strongest signals we can send to consumers and families and to businesses to restore their confidence is to make sure they understand America is going to get its financial house in order. Republicans in Congress are going to send a statement today that America will get its house in order. This vote today basically says we're not going to grant the President an unconditional increase in how much America can borrow. Here is a good reason why. We took a look at who ran up the debt for America over the years. This chart shows we basically said, Who controls the purse strings? Congress. We took a look at all the debt that's been incurred since World War II, and what it shows is that the debt held by the public, that's by people, by countries like China, like firms in the Federal Reserve Board, 90 percent of the debt that's been run up since World War II has been accrued by Democrats, 10 percent by Republicans.…”