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Public Statements

Disapproval Resolution Relating to Debt Limit Increase

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. HUELSKAMP. I appreciate the gentleman from New York yielding to me.

I do support this resolution.

Here in this Chamber--actually, here in America--we often talk about achievements in terms of metrics: the larger, the better. For a private company, it's impressive when it has a large budget, a large workforce, and a large profit and a large presence.

The Federal Government, as an institution, should not talk this way, even though similar assertions would all be true. Washington spends too much, employs too many people, and is too intrusive in the lives of all Americans.

The major difference is that private business makes investments that deliver returns, and failure to do so is the demise of the business. The Federal Government's spending, though, often fails to deliver real results. But the Federal Government does not meet its demise; rather, the all-too-often negative consequences fall on taxpayers and usually result in a new government program or one or dozens more.

But if we were thinking like a businessperson, we would consider the results that have come from past investments before making another.

Two-and-a-half years ago, the previous Congress and this current President implemented a stimulus that ultimately will cost Americans more than $1 trillion. This mega-investment was supposed to create 3.5 million jobs. This investment was supposed to bring an unemployment rate of 6.4 percent last month. But what has actually happened? The President is more than 6 million jobs short and unemployment stood at 9.1 percent last month. That's not even counting the millions of Americans who are underemployed.

The Budget Control Act, which the President signed, was supposed to be about putting an end to Washington's business as usual: spend and borrow, spend and borrow some more. Yet when the President came before us here in this very room a week ago tomorrow, all we heard was a recycled idea: another stimulus, another $450 billion exercise in excessive spending that will underperform and underdeliver.

Spend, spend, spend, raise taxes and borrow more to pay for that spending. Raise those taxes from the very individuals and businesses that can actually create jobs that will get the economy out of this rut and put millions of Americans to work. And along the way, let's demonize job creators. That's what happened in this Chamber.

I believe the Federal Government should function as efficiently and as effectively as a private business; but it, by no means, should be able to brag about a large budget that fails to deliver and which only adds to the red ink each year.

Before adding to the $15 trillion in debt this country already has or sustaining more years of trillion dollar annual deficits, we have no choice, and the American people expect no less, cut current spending and cap future spending obligations and pass a balanced budget amendment.

I support this resolution.

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