Mike Thompson: “Mr. Speaker, first I want to just make sure everybody understands, this does not make it more difficult to raise taxes.…”

“Mr. Speaker, first I want to just make sure everybody understands, this does not make it more difficult to raise taxes. This merely makes it honest to raise taxes. My friend from Iowa is correct, taxpayers pay all right. They pay $1 billion a day in interest on the national debt, $50 billion a year in interest to countries like China and Japan and the OPEC nations. When budgets do not balance, taxpayers do pay. That is why we need PAYGO.”