BREAK IN TRANSCRIPT
Mr. FRANKS of Arizona. I certainly thank the gentleman for yielding.
Mr. Speaker, all financial budgets will eventually balance. No individual, no family, no business, and no government can indefinitely continue to spend more money than they take in without someone having to make up the difference. Mr. Speaker, that includes the Federal budget of the United States.
Neither Mr. Obama nor congressional Democrats can repeal the laws of mathematics. The Federal budget of the United States Government will eventually balance. The question is whether the White House and those of us in this body will balance this budget ourselves by wise policy or whether national bankruptcy and financial ruin will do it for us.
From the day Barack Obama walked into the White House, his breathtakingly arrogant policies have absolutely ignored economic and financial reality. It took America the first 216 years of its existence to accumulate the debt that Barack Obama has accumulated in the short 2 1/2 -year span of his Presidency. He rammed a nearly $1 trillion government takeover of health care down the throats of the American people, and he spent another nearly $1 trillion on a failed government-based boondoggle for economic stimulus. During his short time in office, he has increased our Federal debt by nearly $4 trillion in new debt, and now he says we will have $1 trillion-plus deficits "for years to come.''
Then, when speaking of the effort to reduce the deficit, the President has the hubris to tell conservative Republicans to take a balanced approach and to eat our peas. To that, I would just say to the President: Please pull up a chair, sir. We are ready to eat our peas, and we need help.
This Cut, Cap, and Balance bill is actually a solution to America's problem. It does not cut Social Security. It does not cut Medicare. It does not cut compensation to our men and women in uniform by one dime; but the balanced budget amendment it proposes does give us an honest chance of reforming and saving those programs and our country from bankruptcy in the future.
Mr. Speaker, this is not the Democrat Congress of last year that gave a standing ovation to a $2 trillion increase in our debt limit. This is the Congress that was sent here by the American people to turn things around--and the American people are awake, Mr. Speaker. They are watching us, and they are tired of Democrats telling them that 2+2=13. If Democrats and the President are not willing to give the American people this chance by helping Republicans pass a balanced budget amendment in this Congress, the resulting consequences will be theirs alone, and I believe the people will hold them accountable.
By passing this Cut, Cap, and Balance bill along with the balanced budget amendment, we can restore confidence in the American economy in markets here and across the world. We can see more revenue come into these coffers than has ever happened in the history of the Nation, and we can set this country on a new road to the brightest days it has ever seen. It is something that is truly an opportunity beyond our dreams. This is the time to do it, and by the grace of God, that's exactly what we intend to do.
BREAK IN TRANSCRIPT