Andy Biggs: “Last September, America's national debt topped $20 trillion for the first time in history. Almost 3 months ago, the debt…”

“Last September, America's national debt topped $20 trillion for the first time in history. Almost 3 months ago, the debt exceeded $21 trillion, and we have an annual structural deficit in the hundreds of billions of dollars. Mr. Speaker, the United States faces no greater menace than our inability to eliminate our debt and balance our budget. Our grandchildren will pay the price for our dereliction of duty and our seniors will soon see Social Security and Medicare funds depleted. This internal, bipartisan recklessness endangers all Americans. It is past time for us to become serious about balancing our budget and making significant cuts to Federal spending. If we do not change our course, we will one day see the crash of the American economy and the demise of a super power. Mr. Speaker, let's change our course before our debt reaches $22 trillion. The time for conversation is over. The time to act is now. ____________________”