Facts the American People Deserve About the Fiscal Cliff

Floor Speech

Mr. OLSON. Madam Speaker, I want to give the American people seven facts about our fiscal crisis.

Fact number one: we have a $16 trillion national debt that's expected to go up to over $22 trillion before President Obama leaves office.

Fact number two: Washington's problem is not revenue. It's uncontrolled spending.

Fact number three: in less than 14 hours, automatic tax hikes will give Washington more money to spend.

Fact number four: the nonpartisan Congressional Budget Office says these automatic tax hikes threaten to put us back into another recession.

Fact number five: the House has done its job to avoid this crisis by passing a bipartisan bill to stop the tax hikes.

Fact number six: the Senate, with the President's approval, has refused to take up this bill.

Fact number seven: we've done our job in the House. It's time for the Senate to do their job before the clock strikes midnight.

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