OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

We Must Stop Unnecessary Spending

Floor Speech

Date: Dec. 14, 2009
Location: Washington, DC

Mrs. SCHMIDT. Madam Speaker, I rise once again to remind this body that we must stop the unbridled spending that continues to raise our deficit.

We have been reminded by Moody's that we are in jeopardy of losing our AAA rating by 2013 if we do not get our spending under control. Today, Barron's echoed the same warning.

Our debt ceiling currently is $12 trillion. It is my understanding we are going to be asked to raise it an additional $2 trillion this week. Enough is enough. We must stop this unnecessary spending and stop it now before it is too late. We cannot spend our way into prosperity. I fear the results.


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