Issues Facing America
Floor Speech
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Mrs. ADAMS. Thank you.
I join my fellow Republican women today to come and talk to you about what we passed yesterday, Cut, Cap, and Balance. I want to reach out to the American people and tell them why. August 2 is quickly approaching, and what we have heard from our President is, first, the Biden talks. Then it was the "grand bargain.'' Then it was the McConnell-Reid deal. Then it was Gang of Six. Again, all of these are proposals, all of these are ideas. Nothing on paper. Nothing to be scored by the Congressional Budget Office. Not one thing put down in writing so that the American people and, quite frankly, Congress knows what is truly in these plans.
So now, just yesterday, the House Republicans passed Cut, Cap, and Balance with bipartisan support. It's the only legislation that has been introduced to Congress that actually addresses the debt, the deficit, and the ability to get our budget back in order, balancing our budget, the only one scored by the Congressional Budget Office. I supported that legislation and I
will continue to support it because it is the only legislation that has been brought forth to handle our debt, deficit, and our budget. Not any of these other plans that have been floated out there, spoken about, talked about, nothing in writing.
As I heard one of my colleagues say earlier, the Congressional Budget Office said, We can't score a speech. And the American people don't really know what's in that legislation unless you write it down and let them take a look at it. That is so important for the American people. They want to know what we are doing. That's why it was so important that we had Cut, Cap, and Balance out there. The American people had a chance to read it, review it. They've seen what we have done. And I'm hearing from the people in my district that they're happy. They're happy that we have passed a responsible bill.
We're facing $14.3 trillion in debt. It's equal to about 95 percent of our entire economy. And $3.7 trillion of that was just accrued under President Obama's watch. To put that in perspective, it took the United States from 1776 to 1992 to accrue that same amount of debt that we've accrued in about 2 1/2 years.
We're mortgaging our children's future. We're borrowing 40 cents on the dollar, much of it from the Chinese. And we are sending the bill to our children and grandchildren. This has got to stop.
If we don't listen to the American people, then shame on us. We have heard them loud and clear. We know they want us to get our fiscal house in order because every day the American people are making their hard decisions on what they're going to buy, whether it's gas, whether it's prescription drugs, whether it's food, because everything is going up. And the jobs are going away. We have a high unemployment rate. We have different credit rating places telling us, Get your fiscal house in order or we are going to downgrade you. If that happens, the American people are the ones that suffer with us. This affects each and every one of us.
That is why I am proud to have supported Cut, Cap, and Balance. That is why we stand here today talking with you, the American people, letting you know we heard you. I'm ringing the alarm. My colleagues in the House are ringing the alarms. But the Senate Democrats and this President don't seem to be listening. We have a problem, and it is not a tax problem. It is a spending problem here in Washington. We need to get that spending under control.
Since 1917--I think that's when they first passed this debt ceiling legislation, and I think, personally, they passed it with hopes that Congress would never spend more than they took in. That's my opinion. I wasn't here back then. But I will tell you that year after year, Congress has voted to ignore, to move on, to continue the spending without addressing the true drivers of our debt. We have to address those drivers.
If Congress isn't willing and the President isn't willing, then the American people are willing, and they're saying, Send us the balanced budget amendment. Let us show you where we are on this. Forty-nine States have a balanced budget requirement and they're able to live within their means. We should do no less. The American people live within their means, States live within their means, and Congress and the Federal Government should do no less.
Years of kicking the can down the road have come to an end. Reckless spending needs to stop. And the Senate's repeated failure to pass a budget and do their jobs that has led us to this economic crossroads needs to stop.
I'm asking my colleagues in the Senate, take up this bill, pass this bill. Listen to the American people. They want the opportunity to vote on a balanced budget amendment. Let them. What are you afraid of? Let the American people's voices be heard. Let them vote.
Americans deserve better, and we have proven that here in the House. I hope that our Senate colleagues are listening. I hope our President is listening. August 2 is quickly approaching. You do not have a scorable plan written down. We need to make sure that we protect our American heritage for our future generations.
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