Let me say I am deeply humbled by the gentleman's characterization of our efforts. There is not a day goes by in this Congress that I am not grateful to the people of Texas for sending Congressman Jeb Hensarling to Washington, DC. His…
Let me say I am deeply humbled by the gentleman's characterization of our efforts. There is not a
day goes by in this Congress that I am not grateful to the people of Texas for sending Congressman Jeb Hensarling to Washington, DC. His work, Mr. Speaker, on the Budget Committee, his work as the leading voice of fiscal restraint in the largest caucus in the House of Representatives has been seminal to the debate that we are engaged in, both in the House and, as we have motivated it, in the Senate; and I congratulate my colleague from the heart.
Mr. Speaker, I rise, along with my other colleagues today, in strong support of the Deficit Reduction Act. The numbers speak for themselves. And as I have listened to the opposition to this legislation speak, as I have listened to even the advocates of this legislation speak, we are spending a great deal of time in, specifically, distinguishing the trees from the forest. I would like to talk about the forest from the trees for a moment.
The forest is $8 trillion in national debt, a national debt that has swelled by 25 percent, $2 trillion in the last few years alone, a post- World War II high of per-family share of the national debt, I believe the number, the gentleman will correct me, in excess of $24,000 in obligations for every American family. It is a second mortgage on every American family, that $8 trillion in national debt.
We come into this well, this week, as our colleagues in the Senate did last week, and in the face of a hurricane of national debt, we are going to throw a pebble of $50 billion in savings. And in the context, Mr. Speaker, of a $2.5 trillion Federal budget, this is a modest effort, but a meaningful effort. And I rise to applaud it.
$8 trillion in national debt. And then as the gentleman from Texas observed, in 6 days, in the wake of the worst natural catastrophe in our country's history, the worst hurricane to strike the coast of this country in some three centuries, this Congress spent over $60 billion in 6 days. And the American people, and many Members of Congress simply stood astride that freight train of spending and yelled ``Stop.'' And it is in a very real sense, that, in part, which brings us to this impasse today, whether or not we, as a Republican majority, as a governing majority in America, are going to be able to make tough choices during tough times.
I believe that we will. I believe, as our colleagues in the Senate bravely did last week, I believe this Congress this week, will rise to this challenge because I believe it is precisely what the American people meant this majority to do, to be able to practice both generosity and fiscal discipline at the same time.
In a very real sense, I must say that as we saw $60 billion flow out of this institution in less than a week, in the aftermath of Katrina, I bristled at the posturing of some in the House and the Senate who went before the American people who were still grieving in our hearts at the extraordinary cost to families and communities along the gulf coast. And some in Congress stood up and said that we have done the hard work.
Well, getting out my grandchildren's credit card and borrowing $60 billion for the families and communities along the gulf coast is not hard. What we are doing this week with the leadership of Speaker Dennis Hastert and the leadership of this Republican majority, what the Senate did last week, is the hard work that the American people expect us to do. That being said, we will take a modest but meaningful step in the direction of ensuring that a catastrophe of nature does not become a catastrophe of death. But let us not overstate it.
And with this, I close. As we look at some $50 billion in savings over the next 5 years, we are hearing the remonstrations of the opposition that we are cutting Medicaid, we are cutting student loans, we are even cutting Low-Income Home Energy Assistance Programs. And it is simply not true. As much as it might warm the heart of this conservative for Congress to get out the sharp scalpel and truly go after that $8 trillion in national death, as the gentleman graciously assists me with the chart, that the baseline of changes in mandatory spending between this bill and the last mandatory spending was projected to grow, without my glasses on, at 6.4.
I will be glad to yield.
I thank the gentleman, having not brought my reading glasses.
What we are doing here is adjusting the arc from 6.4 growth to 6.3 percent. And as the gentleman from Georgia just said moments ago, in Washington that is what passes for a cut. And that is just false advertising in America today, and the American people are on to it. They know under this bill Medicaid will grow by 7 percent. They know that student financial aid will continue to increase. And they also know that there is a billion, a 50 percent increase, in low-income home energy assistance, over $1 billion in additional resources available.
This is modest, but meaningful pruning of the Federal budget. It is not, even though it may warm this conservative's heart, it does not represent the hard choices and deep cuts that, candidly, future Congresses and future generations will have to make to meet the unfunded obligations that this government faces in the next 50 years.
So I rise today to say, this is a good start. It is time to put our fiscal house in order. It is time to take that first step toward fiscal restraint.
I urge my colleagues to see this in context. For conservatives for whom it is not enough, accept it as an important first step. And for those less conservative in the Congress than me, which is most, see this as a modest first step in the direction of fiscal restraint that is so much needed in the wake of catastrophes of nature.