Bob Schaffer: “nearly 40 years ago, President Dwight D. Eisenhower warned ``we cannot mortgage the material assets of our grandchildren…”

“nearly 40 years ago, President Dwight D. Eisenhower warned ``we cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. ``We want democracy to survive for all generations to come, not become the insolvent phantom for tomorrow.'' This Congress has a chance to tear off a piece of that mortgage placed on our children and our grandchildren and all of our future generations by paying off America's debt. We can start this year. We can start by committing 90 percent of the surplus to paying off America's debt. Democrats say it cannot be done, and they are wrong. Just a couple of years ago when we Republicans promised we would stop Bill Clinton's raid on Social Security, Democrats said that could not be done. But once again, they were wrong. Paying off the debt should be our top priority. It frees up money currently spent on interest and allows us to pay for other top priorities such as prescription drug benefits, saving Social Security, and preserving the political and spiritual heritage of our grandchildren.”