The Financial Security Of The United States

Floor Speech

Mrs. SCHMIDT. Madam Speaker, as I was getting ready to come here this morning, I was listening to the television and something was said that really caused me to not just pause but really question what some folks are doing with this country.

Moody's Investment Service has sounded an alarm. It is said that if we do not stop our spending, we will lose our AAA rating. We're in jeopardy of losing our AAA rating in the next 3 to 4 years.

This week we're going to debate an omnibus budget bill that will spend almost a half-trillion dollars--that's a half-trillion dollars more to the deficit we already have. Moody's has warned us we can't sustain the spending, and this is going to cost us our triple-A rating.

Madam Speaker, I question what some folks want to do. We need to pause before we spend the taxpayer dollars. We need to make sure that we do not ruin the financial security of our Nation.

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