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Democrats Responsible for Debt Ceiling Crisis

Floor Speech

Date: May 23, 2023
Location: Washington, DC

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Mrs. BICE. Madam Speaker, I rise today to stress the importance of passing pragmatic legislation to address the debt ceiling.

During this 1-minute speech, the national debt will increase by $1.5 million or roughly $25,000 per second. Over the last 12 years, the U.S. Government has more than doubled our national debt, reaching $31 trillion.

It is clear to everyone that Washington has a spending problem, not a revenue problem.

This is why we passed the Limit, Save, Grow Act. The legislation is a responsible approach which would raise the debt ceiling while saving taxpayers $4.8 trillion over 10 years.

I am astounded that President Biden and the Senate Democrats are willing to hold our economy hostage. The facts don't lie. House Republicans have done our job, and Speaker McCarthy has negotiated in good faith. Meanwhile, for over 100 days, this administration and Senate Democrats have done nothing.

Let me be clear, if we default, it is because of their inaction. It is past time for President Biden and Senator Schumer to do their jobs.

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