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Mr. SMUCKER. Madam Speaker, there are several problems with what I am hearing on the floor today. One, this is a blank check for Democrats to continue to spend at unprecedented levels. They talk about this spending for previous expenditures. Not true. This doesn't even set a limit. This would suspend completely the debt limit until December 16, 2022. They can spend as much as they want. It is a big problem.
Number two. Democrats aren't talking about finding ways to reduce the debt. We must tackle that problem. Rather, they believe that they can spend their way into a prosperous economy. In fact, they are attempting to completely erode the foundation of our society that has been built on individual freedom and personal responsibility, and they want to pave the way for the radical socialist agenda.
Unfortunately, we are already seeing the economic damage from their disastrous policies. Inflation is showing a 4 percent increase year to date. Consumer price inflation is higher than that. That is more than double the Federal Reserve's 2 percent goal. Those increases are being felt in my district; they are being felt across the country; and they are essentially a hidden tax on the American people.
Another problem we have, while they are attempting to spend even more money, cause even more economic harm, they will further degrade confidence in the dollar.
And, finally, another problem. This is an exercise in futility, and they know it. They know that this bill is very unlikely to pass in the Senate. So this is simply to score cheap political points today.
Democrats are in full control of the House, Senate, and the Presidency. They can raise the debt at any time. In fact, they passed up another opportunity to amend their budget resolution to include a debt ceiling increase, and they refused to do so.
Madam Speaker, I am strongly opposed to the Democrats' radical socialist agenda, and I oppose this bill which will help them advance that agenda.
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