Chairman Arrington Delivers Opening Remarks at Hearing Entitled “Sounding the Alarm: Pathways and Possible Solutions to the U.S. Fiscal Crisis”
WASHINGTON, D.C. – Today, House Budget Committee Chairman Jodey Arrington (R-TX) delivered opening remarks at the hearing “Sounding the Alarm: Pathways and Possible Solutions to the U.S. Fiscal Crisis.”
Click HERE to watch Chairman Arrington’s Opening Remarks
Opening Statement as Delivered:
“We've got major fiscal problems and a completely unsustainable fiscal trajectory. I haven't heard anyone, Democrat or Republican, witness or member, that doesn't accept that fact. We won't know when the dominoes fall on us in a sovereign debt crisis, it's going to be difficult to put the pieces back together and maintain our global leadership.
A lot is at stake, not the least of which is our children's future. We want to be about the people's business in regard to fiscal stewardship, fiscal sanity, and creating a culture. Not just changing policies and procedures but a culture where we hold ourselves accountable for putting this nation on a path to not just prosperity but, again, financial sustainability.
We're getting out of the box a little bit here. We're going to talk about fiscal responsibility, procedures, policies, and even constitutional provisions, not just in the United States that have been banned for years. There is no doubt there are supporters of constitutional amendments, Mr. Couchman, but there are other similar mechanisms that have been put in place in Switzerland and Germany.
In Germany, it's a deficit to GDP trigger, and it seems to work in some places. 49 of the 50 states have some form of a balanced budget requirement, but there are states that blow right past those mechanisms, and they're in as much financial trouble as the United States. There are some who operate responsibly.
I wrote this quote down that everybody's going to love, and it's as much about human nature as it is about our republic in the question of power. Thomas Jefferson is the one who said this in the question of power: ‘Let no more be heard of the confidence of man, but bind him down from mischief by the chains of the Constitution.’ That's our biggest challenge. It's our weak flesh on both sides to not do the tough things but the necessary things to make sure that we act responsibly. Can we tighten the chains? Can we strengthen the chains? Can we add some links to the chains that would bind the mischief of human nature that is manifested and expressed, at least in this regard, in irresponsible, not-so-courageous, and very inconsiderate of our children's future behavior?
This is a moral imperative to right this ship before it sinks and not just take down America's influence and leadership. Our situation robs our children of their freedom, opportunities, and future prosperity in the United States of America, the greatest country in human history. That's why this is an A committee. This is an A committee. We deal with A problems, and we're going to have an epic catastrophe if we don't work together.”
