On the recordJuly 14, 2011
Today I rise to address the urgent need to rein in the out-of-control government spending that has led this Nation to a dire debt crisis that is hindering job creation and threatens the very future of our country. The people of Virginia's Fifth Congressional District understand the importance of this issue. I continually hear from my constituents-- Republicans, Democrats, and independents--who say if we are serious about turning this economy around and preserving this country for our children and grandchildren, we must put an immediate end to Washington's irresponsible and reckless spending. Our Nation is now facing a $14 trillion debt and $1.5 trillion deficit. We are borrowing over $4 billion a day, and over 40 cents on every dollar we spend. As the President continues to request an increase in the debt limit, while remaining steadfast in his call for hundreds of billions of job- crushing tax hikes, we are reminded of the need to put in place both short- and long-term fixes that will help restore fiscal discipline in our Nation's Capital once and for all. We need to make significant and immediate cuts to reduce our debt and deficit now. We need to put in place spending caps that limit spending as a percentage of GDP, and we need to pass a balanced budget amendment to force the government to live within its means. ____________________





