WASHINGTON – House Republican Conference Chairman Jeb Hensarling (R-Texas) issued the following statement today after Speaker John Boehner announced that he was appointed to represent House Republicans as the co-chair of the Joint Select Committee on Deficit Reduction, serving along with Energy and Commerce Chairman Fred Upton (R-MI) and Ways and Means Committee Chairman Dave Camp (R-MI).
“Times are tough, and American families have had to make many sacrifices over the last few years. While they didn’t cause this debt crisis, they’ve learned how to make do by tightening their belts and living within their means. It’s time Washington did the same, and I'm honored that Speaker Boehner has entrusted me to work with our colleagues to tackle these challenges and help solve our spending-driven debt crisis.
“With the recent stock market fluctuations and historically high unemployment, confidence in our economy is at a low and the American people are understandably frightened about their economic future. Job creation and growth depends squarely on our confidence in the economy. As long as we keep borrowing 42 cents on the dollar and sending the bill to our children and grandchildren, our debt will grow and confidence will continue to shrink.
“The debt crisis is a legitimate threat to our nation’s future, and the American people cannot afford to wait any longer. Everyone can agree that we must stop spending money we don’t have, and the time to act is now. This commission will not be able to solve the crisis in a matter of months, but we can work together to tackle these challenges in order to bring back jobs, hope, and opportunity for the America people.”
Note: The Joint Select Committee on Deficit Reduction is a 12- member bipartisan, bicameral panel tasked with finding at least $1.5 trillion in deficit reduction over the next decade.