2015 Budget - Budget Committee Markup
Congressman McClintock, a member of the House Budget Committee, today delivered the following opening statement at the House Budget Committee Markup hearing:
House Budget Committee Markup
In August of 2010, the Chairman of the Joint Chiefs warned that the greatest threat to our national security was our national debt. We have gone $4 trillion deeper in debt since that day.
Indeed, since Inauguration day, 2009, we have accumulated more debt than we had from the first day of the Washington Administration to the third year of the George W. Bush administration.
We were told this would jump-start the economy. It hasn’t.
Instead, it has deprived markets of capital that would otherwise be loaned to businesses seeking to expand jobs, to consumers seeking to make purchases and to homebuyers seeking to re-enter the housing market.
If you live beyond your means today, you will have to live below your means tomorrow. That is the tomorrow we have created for our children.
Balancing this budget and ultimately paying down the national debt is a national security imperative; it is an economic imperative; and it is a moral imperative.
Under Chairman Ryan’s leadership, the House is poised to pass the fourth budget in a row that will do so. It stands in stark contrast to the President’s budget that never balances and that condemns our nation to a debt spiral that will consume our future.
It does so by reforming and reorganizing our social safety nets, preventing their impending bankruptcy and restoring them to sound financial foundations for the generations to come.
Time is not our ally. Every day we delay, the problem becomes more intractable and the road back becomes more difficult, protracted and perilous.
We are told not to bother, since the Senate and President will never agree to put our nation back on the road to solvency. Sadly, that is true. But I look forward to a day, perhaps not far off, when they will become willing partners to balance our budget and by doing so, to restore our nation’s prosperity, security and future.