Mike Honda: “my goodness, what a difference 2 years make. Two years ago, Republicans argued that the projected $5.6 trillion surplus…”

“my goodness, what a difference 2 years make. Two years ago, Republicans argued that the projected $5.6 trillion surplus was so huge and so certain that they could accommodate large tax cuts and increases in domestic spending, while still having enough to provide for unseen events. In fact, they even worried that the U.S. may pay off the public debt too quickly. Today that $5.6 trillion surplus is gone and has been replaced with deficits as far as the eyes can see. Our national public debt has risen to $6.4 trillion, the highest amount in U.S. history. In fiscal year 2002, American taxpayers spent $333 billion paying interest charges on our national debt, which translates to nearly $1 billion per day, every day. That total is more than the government spends on education, transportation, child nutrition, homeland security, and the environment combined.”