Rep. Campbell: Balanced Budget Fulfills Promise to American People
March 14, 2013
March 14, 2013 -- Speaking at a Budget Committee markup of the FY2014 House Budget, Rep. John Campbell (R-CA) emphasizes the importance of passing the Republican plan to balance the budget in 10 years. Explaining that current U.S. spending and debt totals mimic the path bankrupt nations like Spain took to economic ruin, Campbell stresses that a balanced budget plan will put America back on a prosperous course and fulfill promises Congress made to the American people.
Transcript of Rep. Campbell's Remarks:
Thank you, Mr. Chairman. Have any of you ever been to Spain? I have, once. It's a really nice place. Beautiful country. Nice, hard-working people. Great food. And, at one time, a very prosperous and growing economy.
But, Spain doesn't have a prosperous and growing economy today. About half of all people under 25 years old can't find a job. And, the unemployment rate there is roughly what ours was in the depth of the Great Depression. Additionally, people on government-provided health care - because they have had to cut back hours of service and operation - can't get the health care they need when they need it.
Why did this happen in Spain? Because they did what we should not do. They spent too much, borrowed too much, and let it go on until they had a debt crisis. And, when the debt crisis hit, they had to make corrections in all of this stuff overnight. And, now they have this economy.
We cannot let that happen here. Balancing this budget is just not about making CPAs like me feel good about things tying out at the bottom. It's about not having happen here what's happened in Spain or Greece or Japan. This isn't speculation. What has happened is out there and we can see it. A balanced budget is about creating prosperity. It's about creating jobs. It's about having the conditions under which we can fulfill the health care promises we have made to our people. Under which our young people can find a job. And, under which people can prosper and live the American dream. That's why balancing this budget is so important.