Pete Domenici: “Let me make sure that the American people understand the tax cut we are talking about. It is projected that in the next…”

“Let me make sure that the American people understand the tax cut we are talking about. It is projected that in the next decade we will have $2.5 trillion in surplus money coming into the Federal Government. Let's for a moment understand basically what that means, $2.5 trillion. The entire budget of the United States for everything is about $1.8 trillion a year. We will have a surplus that dramatically and extensively exceeds the total amount we are spending annually for all programs of government. Where did that $2.5 trillion come from? It did not drop on us from outer space, nor did a big rain cloud come over and rain came down and it was full of dollars and that is where the $2.5 trillion in surplus came from. I think most people, if given three or four things they could choose from, would choose the right answer--the taxpayers paid it in. The taxpayers pay $2.5 trillion more in the next decade in taxes than we need to run government based upon a reasonable program.”