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Mr. JORDAN. Let me thank the committee, particularly the subcommittee chair, for their hard work on this legislation and the number of bills that will come from the Appropriations Committee. We do appreciate that.
Look, the gentleman from Indiana is right. Let's just remember some of the numbers: $14 trillion national debt; $1.6 trillion deficit this year. That's following 2 previous years of running record annual deficits. A $220 million deficit for the month of February we had earlier this year, a record monthly deficit. And over $200 billion we pay in interest each year just to service that record debt built up by these record deficits. And most importantly, just remember 6 weeks ago Standard & Poor's said the future credit rating, the outlook for America's credit, is now negative for the first time in 70 years.
So something's got to give here, guys. We can't keep doing the same old, same old, and expect some different result. We are spending way more than we're taking in. Every family, every small business owner, everyone in America knows you can't do that. We've got to stop.
The Federal Government is doing the equivalent of a family making $50,000 spending $85,000 a year. Making $50,000 a year, spending $85,000. And we're not just doing it one time because we're investing in something that's going to have a return. We are not just doing it one time for starting a business or putting a kid through school. We're doing it year after year after year, and somehow we think that's all going to work out. It's not going to work out. And the American people understand it. And they expect tough decisions. They expect the kind of thing that Mr. Rokita is bringing forward in his amendment today. And that's why I rise to support this amendment.
What this would do is actually consistent with what the Republican Study Committee budget brought in front of this body earlier this year. We think it makes sense. And if you remember, that budget that we brought forward actually gets to balance within the budget window. The only budget brought forward that actually balances within the 10-year timeframe, something the American people expect of their Members of Congress. Something the American people expect Congress to do.
So I applaud the gentleman from Indiana for his amendment, and would urge a ``yes'' vote.
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