Mr. Speaker, right now this United States Congress is writing post-dated checks on an overdrawn account. We're on a path to fiscal destruction, one that may threaten the very fabric of our Republic. In many ways, Mr. Speaker, we may be lucky that we have a statutory debt limit because it forces both branches of the legislative branch of government and the executive branch to sit down and have the hard discussions that are necessary at this point in our Nation's history. Does anyone really believe we would be here having these discussions if we didn't have to? There is going to be a bill on the floor this week called Cut, Cap, and Balance; and it allows the President his wish for expanding the debt limit at the same time it caps spending, cuts current spending, and allows for a vote on a balanced budget amendment. The President issued a veto threat today, and I think that is unfortunate. The President has refused to offer any meaningful plan of his own, anything that is scorable. Anything that even has the barest of details the President has failed to provide. And, of course, we all wonder what's happening over in the other body. This country doesn't need more debt; it needs more jobs. But we need to quit spending money we don't have and put people back to work. Dealing with these important issues is what we need to do, and then let Americans do what they do best: create, innovate, and lead. ____________________
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