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Recently, the nation’s debt reached an unprecedented milestone of $8
trillion. As a member and Whip of the fiscally conservative Blue
Dog Coalition, I am truly concerned about the financial path our country
is taking. Today we are $8 trillion in debt, and this debt is growing
every day, every hour, every minute, and every second. From 1998
to 2001, this nation had a balanced budget, and today, under the leadership
of the Republican Congress and this Administration, our nation is faced
with the largest budget deficit ever in our nation’s history for the fifth
year in a row.
This unprecedented and continually mounting debt is demonstrative of
fiscal irresponsibility at its finest, and we absolutely must restore fiscal
discipline and common sense to our nation’s government and its budget.
American families strive each and every month to live on a balanced budget
at home, and I don’t think it’s asking too much to hold the government
to these same standards.
Our nation spends about $500 million each day simply paying the interest
on the national debt. This same money could be invested in jobs,
education, healthcare, and our road needs across Arkansas’s Fourth Congressional
District. As our national debt continues to climb, fewer opportunities
will be available to cut taxes for our working families and for funding
programs important to our children and seniors.
Earlier this year, I joined the Blue Dog Coalition in offering a ‘12-Step
Plan’ that would cure our nation’s addiction to deficit spending.
The ‘12-Step Plan’ requires that all federal agencies pass clean audits,
requires a balanced budget, establishes ‘pay-as-you-go’ standards, and
sets aside a rainy day fund to be used in the event of a natural disaster.
Our budget plan has received tremendous praise from many non-partisan watchdog
groups across the country, and I hope this focus will eventually have an
impact on the way the majority in Congress chooses to address our nation's
budget needs.
In an effort to return fiscal responsibility to our nation's government,
I am co-sponsoring H.R. 903, the Fiscal Honesty and Accountability Act
of 2005. This legislation would amend the Balanced Budget and Emergency
Deficit Control Act of 1985 and the Congressional Budget Act of 1974 to
extend the discretionary spending caps and the pay-as-you-go requirement.
This majority in Congress is treating our nation’s budget like a credit
card with no credit limit. This is unacceptable. As your Representative
in the United States Congress and as a member of the fiscally conservative
Blue Dog Coalition, I remain committed to returning fiscal discipline to
our nation’s government and putting an end to deficit spending. |
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