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Congressman Tom McClintock

Representing the 4th District of California

Car Payments Without the Car

February 23, 2010
Speeches

House Chamber, Washington D.C.
February 23, 2010

M. Speaker:

 Two weeks ago, Congress and the President added $1.9 trillion to the national debt limit.  That translates to more than $6,000 of additional debt for every man, woman and child in the country – more than $24,000 for an average family of four.

 Your family is required to repay that debt through future taxes just as surely as if it appeared on your credit card statement.

 $24,000 is the price of a new car.  Only you don’t get the new car – only the payments for the new car.  What you get instead is another 14 months of deficit spending.

 Two thirds of economic growth is consumer-driven, and yet we have just cost every family in America another $24,000 from its future purchasing power. 

 These policies are not helping the economy – they’re hurting it.  The American people are coming to understand this.  Let’s hope it’s in time to change this congress, change this administration, and save this country.