[Congressional Record Volume 169, Number 70 (Wednesday, April 26, 2023)] [House] [Pages H1979-H2039] From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
Date: 2023-04-26
Chamber: HOUSE
Mr. NEAL: I yield myself the balance of my time. Mr. Speaker, I thank you for your impeccable fairness once again as you have presided over this Chamber as usual. I call attention to the argument I made at the outset as to how we got to where we are today. This is a manageable issue that men and women of good sense and good instincts could come together on to find a solution. The debt-to-GDP ratio, I understand the argument, but does that take into consideration a pandemic and aid to Ukraine, stopping the hostility of Putin's aggression? Does it take into account our obligations--and for those who voted for the PACT Act here--to come to the aid of our veterans? Does it take into account the infrastructure bill that some Republicans voted for? Does it take into account the CHIPS and Science Act that some Republicans voted for? Does it take into account the extraordinary increases in defense spending as China threatens America in the Straits of Taiwan and the South China Sea? These are all parts of votes that both parties have cast. These are parts of the obligations that we have to members of the American family. Republicans suggest, well, if we just chop Medicaid--and earlier today, Mr. Speaker, it should be noted this exclamation point that they have added to the argument that we have no intention of cutting Social Security or Medicare. Great. That is nice to hear. There are members of the Republican leadership in the Senate who have said precisely the opposite. They would put Medicaid and Social Security on the chopping block, and our side should not be restrained in calling attention to that, despite the debate that takes place in this Chamber. The spending challenges that we have as they relate to defense, where every Republican voted, I believe, for that defense budget and the substantial increases that have taken place, that has been an act of responsibility based upon what happens with Putin and President Xi and others who would threaten freedom across the globe.  {time}  1700  When we look at this argument that has been presented to the American people today, I want to ask you about their 401(k) plans. As they allow this argument to be pursued, the markets are going to begin to reflect this in coming days. People are going to pull back from investment. People are going to pull back from what ordinarily would be an act of good fiscal prudence. People are going to begin to pay a great deal of attention to this. The argument that Democrats have offered today is really simple: You and us, we were responsible for those increases in spending. Let us have a vote on a clean debt resolution here and then proceed to negotiation and discussion. I have heard this argument when former President Bush never vetoed one spending bill during 8 years as President. I have seen this argument when we cut taxes, without the help of us, by $1.3 trillion in 2001 and, by the way, another trillion in 2003. With the subsequent invasion of Iraq and Afghanistan and a million and a half new veterans, these are our obligations. Even though we disagreed, by and large, with those positions that were adopted by the then-majority, you recognize the reality, that the tally of the credit card is in front of us. When you get the credit card, you don't get to say, ``Well, I don't like the part of the bill that I have run up here, so I am not going to pay it,'' or you don't say, ``I will only pay this.'' The bill is in front of us. The full faith and credit of the United States is in front of us. I made reference earlier today to the fiscal probity of the Republican Party when I first came here. Whatever happened to the Republican Party when it relates to fiscal prudence and probity? We pay our bills, and we don't threaten the currency of the United States where that dollar is recognized everywhere across the globe. Mr. Speaker, I yield back the balance of my time.