At today’s hearing, Congressman Mike Simpson said, “We all ought to be concerned about the debt we are incurring that we are putting on our children. We can point fingers at Republicans, at Democrats, it doesn’t matter, but everyone needs to be concerned about the debt we are piling on our children’s future, on our grandchildren’s future, and on our great-grandchildren’s future.” Read more »

“My main take-away from this hearing is that Chairman Bernanke, our nation’s top banker, feels that Congress' inability to address the national debt or to pass a budget will have a negative effect on the economy,” said Simpson. He added, “The American people are demanding a plan to address the national debt and pass a responsible budget. Democratic leadership and the Administration must present a plan, or in the very least, allow the Republicans to put theirs forward.” Read more »

“Every year the House Budget Committee starts the budget process by creating the federal budget resolution, which then goes to the House floor for a vote.  It is one of the few things that Congress must do every year: it sets the spending framework within which Congress must work that year, and creates a budget picture for years into the future. It is one of the basic responsibilities of… Read more »