Paul Ryan: Pelosi, Debt Ceiling Increase

Paul Ryan does Wisconsin proud again.

He points out that raising the debt ceiling is anything but a "proud moment."

Nancy Pelosi and the Democrats are celebrating.

When they celebrate, chances are we should be worried.



Transcript

PAUL RYAN: The Speaker of the House came and just said something to the effect that this was a proud moment, a happy occasion, a bill she's really excited about. The bill were about to vote on, Madame Speaker, raises the national debt ceiling by $1.9 trillion. Even if I were a supporter of this bill, I wouldn't be proud of it.

I've taken a look at the President's budget. On page 172, table S-9, the President's PAYGO proposal says at the end of the budget window, we can spend another $473 billion. So, we're saying all the debt that's going up -- the tripling of the national debt that we're giving to our kids and grandkids -- not only does that comply with PAYGO, we can go ahead and spend another $473 billion on top of it. This, Madame Speaker, is a fiscal charade.

Real people, from both parties, need to step up and solve this problem. I've thrown out a few ideas of my own. I hope other Republicans and Democrats do the same. Because, Madame Speaker, if we don't tackle this problem, it's going to tackle us.

Our constituents sent us here to be a part of the solution, and not a part of the problem. And we know irrefutably we're going to bequeath this mountain of deficit and debt onto the next generation. Both of our parties share in the blame. No one party corners the virtue on fiscal responsibility. But we're going to together have to come down here and fix this problem once and for all, and doing this doesn't do it. Doing this is a cop-out. Doing this raises the debt limit $1.9 trillion, and gives us a fiscal cop-out so that we can go talk tough in the election about how we did this and that, while we bequeathed the next generation an inferior standard of living.

I didn't come here to make it sure that my three kids are going to have a life that's worse off than ours. Nobody here wants that. So let's get this fixed, defeat this bill, come together, and do real fiscal discipline.

The American people are not under-taxed. We overspend.

Well said.