|2:23 PM EST||
Allen Boyd, D-FL 2nd
Mr. BOYD. I thank my friend, Mr. Neal, for yielding.
I think all of us here today--certainly in this game of inside baseball--understand that we have to raise the debt limit. We don't have a choice to let our Nation go into default on its bonds.
But I do come today to ask you to support it. I come reluctantly. And I am glad to hear that my friends on both sides of the aisle now are for fiscal responsibility.
I think many of us over here have been saying for years--particularly for the last 8, 9 years--that policies that we were pursuing starting in 2001 of spending more than we were taking in on an annual basis had to stop. We found ourselves in pretty good shape in 2001, and then we changed the policies, and you know the rest of the story, the history of that.
Many of us have been working all during that 8-year period to try to reinstall the tools that we could use to return fiscal discipline to our government: the tools such as pay-as-you-go rules, something that we had in place in the 1990s that was allowed to expire by the Congress and the administration in 2002; discretionary spending limit.
There are lots of tools that can be used, but in the last 9 years, this Congress and the administrations have rejected those tools, and it's time for us to put those back into place.
We don't have the will here at the United States Congress to discipline ourselves. I think both parties have proven that over the years. So we have to come back with those tools such as pay-as-you-go, discretionary spending caps, sequestration, whatever it takes. There's a good idea floating around on both sides of the Capitol here. It's called the SAFE Commission.