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Sequester Replacement Reconciliation Act of 2012

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. WELCH. I thank the gentleman.

Mr. Speaker, this bill seeks to achieve a very worthy goal: reduce the debt of the United States and establish a sustainable level of spending. I share that goal, but I oppose this bill for two reasons:

First, the proponents of this bill know--or they certainly should know--that there is absolutely no chance this bill will be passed by the Senate or signed by the President. That turns this into a political manifesto, not a practical proposal.

Second, and most importantly, the design of this bill guarantees that it will fail. Our budget is a three-pronged stool: domestic spending, Pentagon spending, and revenues. And if you want a strong and durable stool, you need three strong legs. This budget cuts two away. It takes revenues off the table completely, and it exempts the Pentagon, with its nearly $700 billion budget, from making any contribution to debt reduction.

Mr. Speaker, our debt problem is serious but solvable. There were 100 of us in this House--60 Democrats and 40 Republicans--who wrote to the supercommittee, and we said the obvious: Put everything on the table. By doing so, we can succeed.

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