OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Economic Discipline

Floor Speech

Date: Dec. 10, 2009
Location: Washington, DC

Mrs. SCHMIDT. Mr. Speaker, I rise to once again report that we are in jeopardy of losing the AAA credit rating of the United States if we do not impose economic discipline in this Congress and impose it now. The record deficits, coupled with poor economic growth and high unemployment, are making it increasingly difficult for the U.S. to maintain its debt.

Last year this Congress created a deficit of $1.4 trillion. That's an average of $4 billion a day. Now we're being asked to raise our debt ceiling an additional $1.84 trillion so we can continue to borrow money. This spending must stop. It must stop now. And we need the discipline and courage in this Congress to do it.


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