Fiscal and Economic

Democrats and Republicans both want to get rid of a wide range of tax loopholes. But Democrats want to spend that money and Republicans want to lower the overall tax burden. The difference is important.

This budget reflects a great struggle between American families and their government over whether they, or the government, can best spend the money that they have earned.

The decline and fall of the Roman Empire offers us a sobering warning of a great a nation that became over-extended and war-weary abroad, while it became utterly profligate and decadent at home. Its economy in shambles and its treasury bankrupt, the mightiest military power on Earth finally fell easy prey for backward hordes that had previously existed only beyond the fringe of civilization. Three years ago, Admiral Mike Mullen sounded the alarm for our nation with this chilling warning: "Our national debt is our biggest national security threat."

Mr. Speaker: The House is poised to pass HR 325. I respect the sincerity of its supporters, but I must firmly dissent. This bill accommodates spending at ruinous levels far beyond the limits set by the House budget. It sets a terrible precedent by abolishing the debt limit for nearly four months, giving an unlimited credit card to this administration.