Washington, Wednesday, February 16, 2011

Floor Speech

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Mr. CANSECO. Madam Chairman, the gentleman from California (Mr. McClintock), the gentleman from California (Mr. Royce), and I have introduced a very simple amendment. Specifically, the amendment would eliminate the $10.716 million in funding for the East-West Center.

The East-West Center was established in 1960, according to its Web site, ``to foster better relations and understanding among the peoples of the United States, Asia, and the Pacific Islands through programs of cooperative study, training, and research.'' Last year, the Federal Government appropriated $23 million to the East-West Center. On top of the Federal funds it received, the East-West Center raises money from private sources.

I'm not here to debate the merits of the East-West Center. I'm not here to question whether or not the money has been used to do good things. What I'm here to do today is to debate and question why this program should be considered a priority and receive taxpayer funding when we're in a fiscal crisis.

Make no mistake, we are in a fiscal crisis that threatens not only our economic security but our national security. However, you don't have to take my word for it. Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff, has said, ``I think the biggest threat we have to our national security is our debt.''

Erskine Bowles, President Clinton's former Chief of Staff and cochair of President Obama's Deficit Commission, has said, ``This debt is like a cancer. It is truly going to destroy the country from within.''

Just how bad is our fiscal situation? Well, I've just run two back-to-back trillion dollar-plus deficits, and we are on track to run a third one. We're spending at levels as a share of the economy not seen since World War II. We are borrowing 40 cents on the dollar, driving our already $14 trillion in debt even higher.

Cutting spending is the solution to putting our budget back on a sustainable fiscal path. However, my friends on the other side of the aisle would have you believe that we do not have to cut spending. This just isn't the case. However, you don't have to take my word for it.

In his written testimony from his recent appearance in front of the House Budget Committee, Federal Reserve Chairman Ben Bernanke said, ``One way or another, fiscal adjustments sufficient to stabilize the Federal budget must occur at some point. The question is whether these adjustments will take place through a careful and deliberative process or whether the needed fiscal adjustments will come as a rapid and painful response to a looming or actual fiscal crisis.''

No doubt we are making tough decisions here today to begin putting our budget back on a sustainable fiscal path. Yet, as painful as some of these decisions are, it will be more painful for our children and grandchildren if we do not get our fiscal house in order. Failing to do so will mean that we will be the first generation to leave the next with less opportunity and less liberty. Is that the legacy we want to leave our children and grandchildren? I think not.

Mr. Chairman, I yield back the remainder of my time.

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