Woodall: 'What We're Having Is a Debt Crisis'

Rep. Rob Woodall (R-GA-07) addressed the House of Representatives today regarding the nation's looming debt crisis.

Woodall said if the country were just dealing with existing debt, a solution might be possible. That however is not the case, Woodalll said.

"It’s continued borrowing each and every day. To the tune of 42 cents of every dollar that we spend," Woodall said.

Woodall added that mandatory spending -- Medicare, Medicaid, Social Security, interest on the national debt -- required every bit of federal revenue.

"That means every nickel that we spend for education, every nickel that we spend for transportation, every nickel that we spend on national defense, on homeland security, on the environment, on the courts, every other nickel we borrow, with absolutely no plan, Mr. Speaker, for changing that going forward," Woodall said. "If the president were here today, Mr. Speaker, I would say we do not have a debt limit vote crisis. We have a debt crisis, and there is only one body in this town that has put together a budget that will address it."

Woodall said the U.S. House of Representatives has taken on the responsibility to do something the U.S. Senate has not.

"It has been 799 days since the U.S. Senate last passed a budget," Woodall said. "Hear that. Three years ago since the Senate last passed a budget. Not a balanced budget, mind you, Mr. Speaker, but a budget at all."

Woodall said the serious financial challenges require serious solutions.

"The games cannot continue," Woodall said. "The games must stop and they must stop here and we must lead as we have always led in this body. We do not have a debt limit vote crisis. We have a debt crisis that is driven by our addiction to borrowing and spending. The borrowing and spending stops here, Mr. Speaker, and I thank you for your leadership on that."

Woodall’s 7th Congressional District includes all of Barrow and Walton counties, most of Gwinnett County, and portions of Forsyth and Newton counties.