House Republican Conference Chairman Jeb Hensarling (R-Texas) appeared this morning on Fox News’ America’s Newsroom to discuss efforts by House Republicans to combat our nation’s spending-driven debt crisis and the threat posed by Washington Democrat inaction.
Hensarling on America’s spending-driven debt crisis:
“The American people know that we have a legitimate debt crisis. Under President Obama, this nation has racked up more debt in three years than in the previous 200, and you’ve got to quit spending money you don’t have. It's a threat to our jobs. I have a small businessman in my district saying, ‘Why should I expand? I know I’m going to be called upon to pay this federal debt.’ It's a threat to our national security. It is certainly a threat to our children’s future.
“The Speaker says: ‘You know what? Sooner as opposed to later we’ve got to do something … to quit spending money we don’t have.”
Hensarling on Washington Democrats making the crisis worse:
“It's been almost three full years since the Democrats who control the Senate have even deigned to bother to write a budget.”
“What I think is irresponsible is borrowing – as Mr. Van Hollen and Ms. Pelosi and Mr. Obama have done – is to borrow roughly 40 cents on the dollar, much of it from the Chinese, and then send the bill to our children and grandchildren. I would say it's also irresponsible of Mr. Van Hollen, Ms. Pelosi, and Mr. Obama to say, ‘You know what? What we want in Washington is business as usual. We don't even want a debt ceiling vote to be a small speed bump on the road to national bankruptcy.’”
“People can look at your network and see what's happening in Greece for a country that didn't shoot straight with their people, that didn't live within its means, that have now broken promises to generations, and frankly, it's chaos.
“If we act today we can do what every American family, every small business does, and that is live within our means so our children and grandchildren can have greater opportunity. For the first time in America's history people are thinking their children aren't going to have a brighter future and it is a big wet blanket, this debt that falls over our economy. I mean it's one of the things the president has done to help create the worst jobs record since the Great Depression.”
Hensarling on the need to tie urgent reform to a debt ceiling vote:
“Well, I hope so. Otherwise … it begs the question: why do we have it if we’re just going to ignore it? It's a wakeup call. It says: ‘Hey, wake up! You’re not living within your means. You are spending money you don't have.’
“The Speaker has laid down a very simple principle, and that is: if you’re going to increase the debt ceiling, it's time to start bending the spending curve and living within your means. It's kind of like saying, ‘The bills have come in and we’re going to pay the bills. But you know what? We are going to create a budget and we’re going to cut up the credit cards.’