A picture of Representative James P. Moran
James M.
Former Democrat VA 8
About Rep. James
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  • A picture of Representative James P. Moran

    Bad Deal for America

    by Former Representative James P. Moran

    Posted on 2013-01-01

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    MORAN asked and was given permission to address the House for 1 minute and to revise and extend his remarks.) Mr. MORAN. Mr. Speaker, the deal that Republican Senate leader Mitch McConnell was able to get his colleagues to pass last night is a bad deal for America and a worse deal for our children's future. It's the largest increase in public debt that this body will have ever passed-- more than $5 trillion from today's current law.

    Our deficit this year alone is likely to be about $1.3 trillion. This would reduce it down to $1.24 trillion with $60 billion of new revenues that it gains. Most importantly, it sets up three more fiscal cliffs over the next 3 months when appropriations spending expires on March 27, when the debt ceiling has to be increased at the end of February, and when the sequester has to be dealt with at the very same time.

    So all we've done is to stumble forward into an even less predictable situation with far fewer resources to invest in our Nation and our children's future.


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