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Public Statements

Increasing The Statutory Limit On The Public Debt

Floor Speech

By:
Date:
Location: Washington, DC

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The scene and the content of this debate is really like a bad movie in a lot of ways. You rewind the tape and we have ultimately had this conversation about a year ago when the Democratic majority, Madam Speaker, said to the American public, look, we want to borrow $1 trillion, and with that trillion, trust us, it's going to be great. Jobs are going to be created. The sun is going to come out. The tulips are going to be there, and it's all going to be fabulous.

It didn't work out that way. Eleven percent unemployment in the State of Illinois, the difference between the promise of the borrowing, 8 percent unemployment, has now eclipsed to 11 percent in Illinois. And in my home state, Madam Speaker, that means 200,000 people have taken on debt and haven't been rescued. They weren't rescued in December when the majority said we're going to raise the debt limit again, and they're going to be rescued by this. This is a classic underperformance.

And the majority, with all due respect, hasn't recognized the failure of the stimulus. In fact, they don't even like to use the word ``stimulus,'' Madam Speaker.

So in this context, I say let's stop this madness. Let's get back to our first priorities. Our first priorities are to be a nation of disciplined spenders, and we ought not to empower folks to borrow and create more and more debt into the future.

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