Today, U.S. Congressman Roger Williams (R-TX) released the following statement after the House passed the House Republican budget and the Continuing Resolution.
"Today's passage of the Path to Prosperity is a huge step in the right direction for our country. It balances, encourages job growth, supports job creators, and protects hard-working taxpayers. I hope the Senate and President will give this plan serious consideration rather than their efforts to balance our nation's staggering debt on the backs of the middle-class and small businesses."
Williams, a member of the House Budget Committee, spoke on the house floor this week in support of the committee's budget. Remarks as prepared follows. Video can be found here.
"Every business, every family, and every person in America eventually has to balance a budget. I'm a small business owner -- I have owned and operated my business for 41 years, and I balance my budget every month. The government should be no different. Until we balance our budget, we don't know the true fiscal condition of our country, or our company, or our family. Just like a business that is over-leveraged or a family that has over-borrowed, deficit spending can obscure the real picture.
"But eventually the truth comes out. Once the numbers line up, you get an exact view of your fiscal condition. We have gone far too long without knowing our country's financial condition. In the last four years we have had trillion dollar deficits. In 2011, our nation's credit rating was downgraded. And this year, our publicly held debt is on track to exceed 76 percent of GDP in 2013. Yet we still spend money we don't have, pushing the country towards a debt-driven financial crisis. If the federal government didn't have the ability to print money, we'd have negative net worth and we'd be in a weak financial position.
"A budget is a blue print, a road map, a plan. Our nation's budget doesn't need to have balance as its end goal -- it needs to be our starting point. It's the only way to guarantee that the public debt will not outgrow the economy, which would crowd out private investment, raise interest rates, and increase inflation. I am proud to stand in support of "The Path to Prosperity," a responsible, balanced budget that is right for America. This budget balances the budget, cuts wasteful spending, and fixes our broken tax code -- all without raising taxes. I applaud Chairman Ryan and my colleagues on the House Budget Committee for their tremendous work in presenting the American people with what they want -- a budget that works. With this plan, we will apply the same principles that families and businesses use every day, and our country's best financial days will surely be ahead of us."