Skip Navigation

Hensarling: What Part of Broke Don't Democrats Understand?

WASHINGTON, DC — Congressman Jeb Hensarling (TX-05), a leading fiscal conservative and outspoken proponent of earmark reform, who is the second ranking Republican on the House Budget Committee and a member of the National Commission on Fiscal Responsibility and Reform, today delivered the following remarks on the House floor in opposition to the earmark-laden THUD appropriations bill:

Mr. Hensarling: I thank the gentleman for yielding. Mr. Speaker, the American people are asking this Congress and this President what part of broke don't you understand? Already we have seen on June 30 the third largest one-day increase in the national debt in our history. $166 Billion , larger than the entire annual deficit of 2007. Already this year the deficit has crossed the trillion dollar mark for only the second time in American history. Of course the first time, as we know, was last year.

We are looking at the largest national debt in our nation's history. As a percentage of our economy, it rivals that of World War II. And it's only due to get worse. And yet since the democratic majority has come in, President Obama has been elected, this body has gone on a spending spree. Toda y borrowing 41 cents on the dollar mainly from the Chinese to send a bill to our children and grandchildren. At one time the house majority leader, now Mr. Hoyer of Maryland, said to run deficit when they can to fiscal child abuse. Now we seemingly hear from the other side the refrain Que Sera Sera.

First time in the history of the house the house hasn't even attempted to pass a budget. Mr. Speaker, I guess the only reason you want a budget is because you want a limit on spending. If you don't want to limit your spending, you don't need a budget. So we have no budget. We are going directly to the appropriations bill. In this case the THUD bill is 38% larger than it was in fiscal 2008, the year before the Democrats went on their spending spree.

You know, Mr. Speaker, again how much of this spending meets the test of borrowing 41 cents on the dollar, mainly from the Chinese, sending the bill to our children and our grandchildren? I have the pleasure of serving on the president's fiscal responsibility commission. It's chaired by the gentleman from North Carolina, of staff to President Clinton, he likens the national debt, quote, this debt is like a cancer. It's truly going to destroy the country from within and yet, Mr. Speaker, our democratic majority brings to the floor a bill spending 38% more than just a few years ago.

Recently it was reported in The Hill that our Chairman and the Joint Chiefs of Staff said the nation's debt is the biggest threat to U.S. national security. We have the Democratic majority brings a bill to this floor spending 38% more on THUD than just three years ago.

The director of the Congressional Budget Office, Democratic appointee, has said, quote, U.S. fiscal policy is unsustainable. Unsustainable to an extent that it can't be solved through minor changes. Yet, the Democratic majority brings a bill spending 38% more since when they came into office.

Economist Robert Samuelson said the spending could, quote, trigger an economic and political death spiral. Yet the Democratic majority brings a bill spending 38% more from when they took over. You know, Mr. Speaker, Americans have seen what has gone on in Greece. They have seen the riot in the street. Greece is having to sell sovereign territory. Their debt in relation to their economy is about 112%. Ours is at 90%. We are truly at a tipping point which is why the American people are saying, what part of broke don't you understand? No nation can borrow, spend, or bell u p its way to economic prosperity. This bill needs to be defeated.