Disapproval Resolution Relating to Debt Limit Increase

Floor Speech

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Mr. GRIFFIN of Arkansas. Madam Speaker, I rise today in support of House Joint Resolution 99, offered by the gentleman from Indiana, my good friend and colleague on the House Ways and Means Committee.

And I want to be clear: this is not a resolution for default. This is an opportunity to talk about how we have got to, when raising the debt ceiling, deal with the underlying drivers of the debt.

History shows numerous instances in which spending cuts and reforms have been coupled with increases in the debt limit. This dates back to the inception of the debt ceiling limit in 1917. It also includes two instances during the 110th Congress when President Obama served in the Senate.

Further, in March 2006, then-Senator Obama voted against raising the debt limit. And we have heard some folks tonight talk about how they agree with President Obama. Well, let's listen to what he said in March 2006:

Increasing America's debt weakens us domestically and internationally. Leadership means that the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

Well, I also agreed with then-Senator, now President, Obama. And it is abundantly clear that no one is going to fail to raise the debt ceiling. No one is going to jeopardize our credit, but we must speak out on the failure to address the debt drivers.

In July 2008, then-Senator Obama said that adding $4 trillion to the national debt over 8 years was ``irresponsible'' and ``unpatriotic.'' I agree with what he said then.

Since he became President in 2009, President Obama has increased the total Federal debt from $10.6 trillion to over $17 trillion. One has to wonder what then-Senator Obama would have to say about President Obama.

He has continually called for raising the debt ceiling during his Presidency without implementing any of the necessary reforms needed to get our Federal spending under control.

My focus has always been on working with anyone who is willing to find a real, long-term solution to Washington's spending addiction. This resolution shows the House is ready to start talking across party lines about how to fix our debt problems now, not at the next deadline.

Late last year, CNN reported that ``the United States spends about 71 cents of every Federal tax dollar it collects on what is called the Big 4--Medicare, Medicaid, Social Security, and interest on the debt.''

If nothing is done, in just 13 years the Big 4 could eat up every penny of tax revenue collected by the Federal Government, leaving nothing to pay for the discretionary spending that we like. That includes spending on defense, veterans benefits, education, roads, national parks, museums, medical research, food safety and air traffic control, to name a few.

CNN further said that ``by 2040, more than half of all Federal tax revenue would be eaten up by interest payments on the debt alone.''

In 2006, then-Senator Obama said those ``interest payments are a significant tax on all Americans, a debt tax that Washington doesn't want to talk about.''

But let's be clear: House Republicans in Congress, and the voters who put us here, are the only reason--the only reason--anyone in August of 2011 talked about the debt problem and reached a debt deal. Otherwise, the President would have simply had the debt ceiling raised, and there would have been nothing done structurally.

And we are the only reason why we talk about it now. Otherwise, it would be a clean debt ceiling increase with no strings attached.

I urge my colleagues to join me in supporting this important resolution and getting our excessive spending under control.

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