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Providing for Consideration of H.R. 2560, Cut, Cap, and Balance Act of 2011

Floor Speech

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Date:
Location: Washington, DC

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Mr. BROOKS. Mr. Speaker, back home in my district, one of the things I am understanding and communicating with people is the difficulty in their understanding the difference between millions in debt, billions in debt, and trillions in debt. So I heard an analogy the other day that I thought was appropriate, that hopefully will help the American people better understand the financial situation in the United States of America.

Imagine that you are a family and you haven't been keeping track of your finances for a good while. Finally, you decide to sit down at your kitchen table, the two spouses get together, and they accumulate their income, they accumulate their expenses, and they accumulate their debt. And as they go through their income, they discover that they have about $50,000 that they can spend--that's their income--for the upcoming year. And then they look at their expenses, and they put all the bills together and how they spent over the past year. And they discover that last year, they spent $80,000, meaning that they have spent $30,000 more than their income. And then finally, they pick up their Visa card bill, and that Visa card bill is $320,000.

Well, those are the exact same ratios that we're talking about with the United States Government and the debt that we face. We have got a budget that's around $3.5 trillion. We have got an income that's a little over $2 trillion, and we have a deficit that is $14.3 trillion. All of that is unsustainable. It is a financial house of cards. And we have to take a tough but reasonable course, and that's what cut, cap, and balance is all about. Cut, cap, and balance, that is the way we score financial security for the United States of America, and that is the way to create jobs.

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