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Raising the Debt Ceiling Means Serious Changes

Date: June 1, 2011
Location: Washington, DC
Issues: Economy and Fiscal

Mr. WILSON of South Carolina. Mr. Speaker, over 750 days have passed since the Senate passed a budget. Now, liberals in Congress are leading the charge to increase the current debt limit. The Federal Government officially reached its $14.3 trillion debt limit in May. America's finances are now borrow, tax, and spend--killing jobs.

Congress should not raise the debt limit without making serious changes in the way the Federal Government spends money. Recklessly raising the debt ceiling without exercising fiscal restraint will lead to a lower international credit rating, higher borrowing costs, and an increase in the cost of the Nation's imports.

This is a threat to senior citizens by risking the value of the dollar. It's a threat to young people, saddling them with overwhelming debt.

Washington must change its way, which is now killing jobs.

In conclusion, God bless our troops, and we will never forget September the 11th in the global war on terrorism.


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