the Republicans have once again squandered opportunities, from international goodwill following the terrorist attacks on our soil, to managing the federal budget. The House leadership has compiled an abysmal record in the 108th Congress. Their fiscal performance, I regret to say, is the worse in recent memory. This Republican leadership has presided over an historical reversal from record surpluses to now record deficits. Their lack of fiscal discipline has placed our economy in a precarious position and straight-jacketed future policy options. The most troubling aspect of this policy is that we are giving the current generation a free lunch and running up debts that must be paid for by our children. Each newborn child now inherits $85,000 in debt. This so-called 'baby-tax' will rapidly increase unless we restore some sanity to our budgetary policies and practices. The lack of a surplus makes it even more difficult to solve the impending bankruptcy of Social Security and Medicare, or even to enact a Republican tax reform agenda. Pattern of Fiscal Mismanagement Time and time again, this leadership has chosen to disregard its fiscal responsibilities and ignore signs of impending fiscal crisis in the hope that the problem will fix itself, or disappear altogether. Clearly a policy of avoidance doesn't work, and it's certainly not what the American people expect from its elected leaders.
Editor's note · Context
Addressing fiscal mismanagement and budget deficits during a speech in Congress.
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