April 30, 2015 - Budget Conference Report
Mr. Speaker:
With this vote, our nation is about to take its first step away from financial ruin and toward fiscal solvency and prosperity.
Our nation’s debt has literally doubled in eight years, now exceeding the size of our entire economy.
That debt requires us to make interest payments of $230 billion this year – nearly $2,000 from an average family’s taxes -- just to rent the money we’ve already spent. On our current path, that burden will triple within the decade, eclipsing our entire defense budget. Medicare and Social Security will collapse just a few years after that.
Time is not our ally and the future is not a pleasant place if we continue just a few more years down the road we’ve been on.
THAT’s why this budget is so important. It changes the fiscal course of our nation, slowly pointing us back toward solvency and prosperity. It restores congressional oversight of an abusive federal bureaucracy. It redeems our healthcare system from the nightmare of Obamacare. It rescues Medicare from collapse. It adopts the time-tested pro-growth policies that produced the Reagan economic recovery and the unprecedented prosperity of the 1980’s.
And if we can implement this budget, in ten years deficits will turn to surpluses we can begin paying down this ruinous debt at a pace that assures students now in college will retire into a prosperous, secure and debt-free America.
It’s not perfect and it is not complete. Ahead of us are many months of legislating to build the governmental streamlining and reforms that it calls for.
But if we can set this course and stay this course, one day in the very near future a new generation can know just how wonderful it is to awaken and realize that it is morning again in America.
