Andy Biggs: “I thank the gentleman from Maryland, and I appreciate his focusing on the interest, because he is right. In just a few…”

“I thank the gentleman from Maryland, and I appreciate his focusing on the interest, because he is right. In just a few short years, we will be spending more of our budget on interest than we do on defense; and then a couple of years after that, more on our interest than we spend on Medicare. Think about that. Think about where we are headed because of our profligate ways. In the first chart he showed, I was struck, as I remembered growing up in the Cold War era. Madam Speaker, I think those of us who grew up in the Cold War era remember that contest between us and the former Soviet Union and the amount of money spent by both sides. It is dwarfed by the spending that we are embarking on today as a percent of our GDP. That is where we are. That is where we have come. So it continues to be a problem in so many ways and on so many levels. Madam Speaker, it is my privilege now to yield to the gentleman from Colorado (Mr. Buck).”