On the recordAugust 1, 2011
Thank you, Mr. Speaker. I had no idea that my pending remarks would lead to such a wellspring of apparent support. I would point out, Mr. Speaker, that in the last rejoinder between the gentleman from New Jersey and the gentleman from California, spending cuts at this level are not going to create any jobs. The idea that spending cuts and deficit reduction will lead to unprecedented economic prosperity is absolutely a false economic premise. Getting control of our fiscal house to make sure that we make productive investments and create jobs will create jobs. With respect to the proposal underlying this rule, Mr. Speaker, there's plenty for members of both parties to find objectionable, and they might be right, but the choice before us is not that between this proposal and some platonic ideal. It is between this proposal and catastrophic default tomorrow. Unlike the cynical bill this Chamber passed on a party-line vote last week, this bill commits America to meeting its obligations for the longer term, it leaves all options on the table, including revenue for the bipartisan committee this fall to further reduce the deficit, and having triggers, painful for both parties, adds real accountability and strict enforcement. The American people understand we need a balance to restore fiscal responsibility and grow our economy. Recent GDP and manufacturing numbers are painful reminders, Mr.…





