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April 13, 2011

Spending-Driven Debt Crisis

[Page: H2580]  GPO's PDF 

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(Ms. FOXX asked and was given permission to address the House for 1 minute.)

Ms. FOXX. Mr. Speaker, $14.4 trillion, that's the approximate size of our Nation's economy; $14.2 trillion, that's the size of our Nation's debt--a record high and growing. Soon our debt will surpass our economy. Let's be clear: No nation that deep in the red can lead as it must or go on living as it wishes for very much longer.

Our spending-driven debt crisis is adding serious uncertainty to our economy, which is preventing businesses

[Page: H2581]  GPO's PDF
from expanding, innovating, and creating jobs. Admiral Mike Mullen, the Chairman of the Joint Chiefs of Staff, has rightly called our debt ``the single greatest threat to our national security.''

If we want to bring confidence back to our economy, jobs back to our citizens and hope back to our children's future, we have to stop spending money that we don't have. It is time for the Senate Democrats to stand up and join this fight.

(House of Representatives - April 12, 2011)

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