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Public Statements

Requirement in Budget Submission With Respect to the Cost Per Taxpayer of the Deficit

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. BILIRAKIS. Thank you, Mr. Messer, and I appreciate you introducing this very good bill.

Mr. Speaker, Washington continues to spend money we don't have. As we all know, the Federal Government borrows nearly 46 cents on the dollar, much of it from China, and we are sending the tab to our children and our grandchildren. What a shame. Across America, working families have had to tighten their belts, and it is past time for Washington to do the same.

That's the bottom line.

Ignoring runaway deficits and out-of-control spending is not an option. With a national debt of more than $16 trillion, Mr. Speaker, every American now has a $52,000 share. We must control spending so Washington will not saddle future generations with burdensome debts that crowd out the private sector and lead to increased taxes and higher interest rates. The lack of fiscal discipline and the rising costs of the Federal debt have created a dangerous combination, necessitating action to prevent Washington from dipping into the bottomless cookie jar.

This legislation before us would simply require the President's budget submission to provide an estimate of the cost per taxpayer of the deficit the budget would run. This commonsense legislation forces us to face this fiscal danger with eyes wide open. I support this good bill, this effort by my colleague, and I urge my colleagues to do the same.

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