The $1.9 Trillion Credit Card Increase

Statement

This week, Congress expanded its capacity to run up the national "credit card" bill by $1,900,000,000,000 -- the largest increase to the national debt limit in American history. That's $1.9 Trillion more national debt that our children and grandchildren will be forced to pay. Now with this record-breaking addition, the national debt limit totals $14.294 Trillion -- or $46,319 per American.

This is simply unsustainable, and I oppose this fiscal recklessness in the strongest terms. Congressional Democrats have gone on an unfettered spending spree and have now raised the national debt ceiling six times since they took control of Congress in 2007. Despite the record increases, Congress will have to increase the debt limit yet again next year under the current Democrat spending plan.

The Majority continues to pursue initiatives and policies that lead to more unemployment and more deficits. This Administration and the Democrat Congress promised the American public jobs, economic recovery, health care, cleaner energy, better education, and more -- yet what they have accomplished is record deficits, record spending and record unemployment numbers.

Today, the Department of Labor announced that the U.S. economy lost 20,000 jobs in January, bringing the total number of jobs lost to 8.4 million since the recession began in December 2007. And while our nation continues to shed jobs and unemployment claims are on the rise, the unemployment rate dropped to 9.7 percent in January from 10 percent in December. A contributing factor to this anomaly is that 1.1 million Americans have given up looking for a job -- up from 734,000 a year ago -- and are no longer counted in unemployment totals.

The economy will need to produce approximately 250,000 new jobs per month over the next 5 years to return to full employment (5% unemployment), and this cannot be achieved under the current tax, borrow, and spend policies of this Congress.

Obama Budget 2.0

On Monday, President Obama submitted his fiscal year 2011 budget proposal to Congress. After announcing last week to the American people his new-found commitment to fiscal responsibility through "spending freezes," President Obama this week released a budget blueprint for more record spending, unprecedented deficits, and trillion-dollar tax increases at time when our nation can least afford it.

Of note, President Obama's budget:

- Spends $3,800,000,000,000 ($3.8 Trillion) of your tax dollars.

- Runs up a record budget deficit of $1.6 Trillion in fiscal year 2011.

- Doubles the national debt in five years and triples the national debt in 10 years from fiscal year 2008 levels.

- Raises Taxes by $2 Trillion on small businesses, investors, and families -- including families earning less than $250,000 per year.

- Includes a national energy tax, which would increase taxes by $870 billion.

Simply put, this budget plan is once again unsustainable and irresponsible. Like last year, President Obama's budget spends too much, taxes too much, and borrows too much. The American people deserve a government that respects their hard-earned tax dollars and operates within the confines of reality.

That is why on Tuesday I provided the House of Representatives with its first opportunity to "freeze spending" as President Obama claimed he would do in his fiscal year 2011 budget.

I offered an amendment to a cyber security authorization bill to stop the annual spending increases totaling $47 million and instead freeze spending levels for three years -- exactly as President Obama proposed. Recognizing the necessity of education and resources to fight cyber attacks, my common-sense amendment would not eliminate any programs in the bill but only freeze existing adequate spending levels across the board.

Unfortunately for the American taxpayer, the Democrat Majority has issued a resounding "no" to spending restraint, voting down my "spending freeze" amendment by a party line vote in the House Rules Committee. After increasing non-security spending by over 90 percent, the Democrat Majority rejected a straightforward spending freeze and showed the American people that claims of "fiscal responsibility" will simply be rhetoric, not reality.

In the midst of the Majority's fiscal insanity, I will stand with my Republican colleagues in offering better solutions that will cut spending overall, control debt, and keep taxes low to grow jobs.

U.S. Service Academy Forum

As you may know, each spring I join my North Texas congressional colleagues as well as Senators Kay Bailey Hutchison and John Cornyn to host the DFW Metroplex U.S. Service Academy Forum. Members of Congress have an important responsibility to nominate qualified applicants to U.S. Service Academies, and I am pleased to co-host this information event for North Texas high school students interested in learning more about Academy opportunities.

This year's Service Academy Forum will be held on Saturday, April 17, 2010 from 8am -- noon at the Tarrant County College Southeast, located at 2100 Southeast Parkway, Arlington, Texas, 76018. This event is free and open to the public.

The DFW Metroplex U.S. Service Academy Forum will highlight the opportunities available, the nomination process, and evaluation requirements for the nation's five Service Academies:

* U.S. Military Academy, West Point, NY
* U.S. Naval Academy, Annapolis, MD
* U.S. Air Force Academy, Colorado Springs, CO
* U.S. Merchant Marine Academy, Kings Point, NY
* U.S. Coast Guard Academy, New London, CT

Each U.S. Service Academy and participating North Texas congressional office will have a representative present to provide additional information and answer questions. For more information, please contact my Dallas District Office at 972.392.0505.

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