Floor Statements

Mr. Chairman, I have an amendment at the desk.

Mr. Chairman, the Cold War ended more than two decades ago, and the Iron Curtain and the Soviet Union no longer exist.

While the United States is spending 4.7 percent of our economy on defense, only 4 out of 28 of our NATO allies are spending even 2 percent of their economy on defense. Our allies in Europe have drastically reduced their national defense spending because they take for granted that the United States will continue to be the guarantor of their security. Now it is time for our NATO allies to provide more of their own security and not be so reliant upon the United States.

We face difficult budget challenges here at home. The resources that we are currently spending on maintaining a military presence in Europe are needed to meet much more significant security challenges elsewhere.

The Pentagon has recently stated that the American military presence in Europe is a diminishing priority and has proposed removing two combat brigade teams in fiscal year 2013. This bipartisan limiting amendment to the Defense appropriations bill will force the Department of Defense to follow through with withdrawing two brigade combat teams from Europe and will deny the ability for the Pentagon to reverse this decision later.

Mr. Chairman, I yield to the gentleman from Oregon (Mr. Blumenauer).

I yield to the gentleman from Washington.

To the gentleman from Washington, I believe that this certainly does not disallow us to maintain rotational forces in Europe. There is no provision within the NATO Charter that requires the United States to maintain a permanent military presence in Europe.

To the gentleman from Washington, there is no requirement where we have to maintain a permanent military presence in Europe.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,884,155,929,632.05. We've added $5,257,278,880,718.97 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

Offered By: Mr. Coffman of Colorado

Amendment No. 18: At the end of the bill (before the short

title) insert the following:

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,875,734,673,516.05. We've added $5,248,857,624,602.97 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

On this day in 1945, President Harry Truman, Soviet leader Joseph Stalin and British Prime Minister Winston Churchill met at the opening of the Potsdam Conference. We must balance the budget so that we may continue to meet and lead other great world powers.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,876,457,645,132.66. We've added $5,249,580,596,219.58 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

Today marks the 150th anniversary of the authorization of the Medal of Honor by Congress. We must balance the budget so that we may continue to honor properly those who have served this country valiantly.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, on the 208th anniversary of the fatal wounding of Alexander Hamilton in his duel with Aaron Burr, it is $15,879,266,313,073.20. We've added $5,252,389,264,160.12 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,879,266,313,073.20. We've added $5,252,389,264,160.12 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

On this day in 1951, armistice talks began for ending the Korean War at Kaesong. We must balance our budget so that we have the resources to engage in peace talks.

Mr. Speaker, the Supreme Court's decision to uphold President Obama's health care reform law has reinforced the need for Congress to repeal and to replace this law. No doubt, health care reform is important. Today, health insurance is far too expensive, and health care reform should lower costs and broaden access without compromising the quality of care.

I support tax incentives to help individuals buy health insurance, high-risk insurance pools for those affected with preexisting conditions, allowing small businesses to band together for the purchase of health insurance so that they can get the same discounts that large corporations receive, and medical malpractice reform to help bring health care costs under control by curbing the unnecessary and costly practice of defensive medicine.

Mr. Speaker, it is time for Congress to act, to show the American people that we can accomplish meaningful health care reform without crippling the economy and bankrupting our Nation.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,879,528,608,975.11. We've added $5,252,651,560,062.03 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,780,999,920,520.17. We've added $5,154,122,871,607.09 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,778,950,543,472.67. We've added $5,152,073,494,559.59 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

On this day in 1919, the Treaty of Versailles was signed in Paris, ending World War I. Without a balanced budget, the United States will no longer be able to bring peace to warring nations.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,782,570,144,097.96. We've added $5,155,693,095,184.88 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

On this day in 1950, President Harry Truman ordered air force and naval forces into the Korean War. A robust economy supported our powerful military. We must balance the budget in order to support our troops more fully.

An important part of the continued viability of our Nation's small businesses is their access to capital. To foster this access, we need to provide community financial institutions with responsible regulatory relief so they can increase lending to small businesses.

That is why, today, I have introduced the Small Business Lending for Jobs Act of 2012. This bipartisan legislation will allow community banks to spread losses in commercial real estate over a 7-year period. This will allow banks to retain more capital and use these funds to make new loans to small businesses in their communities.

The bill also establishes a dual mission for Federal banking regulators and the Consumer Financial Protection Bureau, mandating these entities promote credit availability so long as that credit is provided in a safe and sound manner. This will bring a greater balance to banking regulations. A dual mission will lead to regulators factoring in the impact on banks, communities, and customers in making their decision.

I urge my colleagues to support the bipartisan Small Business Lending for Jobs Act of 2012.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,782,570,144,097.96. We've added $5,155,693,095,184.88 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

Forty-nine years ago today, John F. Kennedy delivered his Ich bin ein Berliner speech in West Berlin. At that time, America had the economic security to challenge her communist foe. We must rid ourselves of this crippling debt.

Mr. Speaker, on January 20, 2009, the day President Obama took office, the national debt was $10,626,877,048,913.08.

Today, it is $15,777,954,587,181.97. We've added $5,151,077,538,268.89 to our debt in just over 3 years. This is debt our nation, our economy, and our children could have avoided with a balanced budget amendment.

On this day in 1788, the Constitution of the United States went into effect when New Hampshire became the ninth state to ratify it. The Constitution, which strove to form a more perfect Union and promote the general Welfare, is being crushed by the weight of our national debt.