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PLUNGING OUR NATION FURTHER INTO CRIPPLING DEBT
(Mr. MURPHY of North Carolina asked and was given permission to address the House for 1 minute.)
Mr. MURPHY of North Carolina. Madam Speaker, for the last 9 months, Washington Democrats have been steamrolling Congress and the American people with a series of socialist, Big Government takeovers. With such fragile control of the White House, Senate, and House, Democrats have authorized trillions in unchecked spending, plunging our Nation into further crippling debt.
The American people are suffering the economic consequences of Biden's unhinged spending in the form of staggering inflation and decreased purchasing power, which I fear could lead us to double-digit inflation by the end of this year.
I refuse to stand by as House Democrats attempt to bankrupt our children and grandchildren. To correct this behavior and increase financial transparency, I have introduced the INFORM Act, the companion bill to Senator Mike Braun from Indiana.
The INFORM Act brings much-needed accountability to government spending by requiring two new government-wide reporting standards on the national debt and deficits and studies net fiscal burdens on different populations.
With the debt growing bigger every day and Democrats showing no sign of restraint in their plans to try to bankrupt America, my bill is an essential part of ensuring that we create a responsible financial future for generations to come.
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SOURCE: Congressional Record Vol. 167, No. 170
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