WALLY HERGER: “We can make debt reduction the priority instead of the afterthought. This Congress can throw away the old ways of paying…”

“We can make debt reduction the priority instead of the afterthought. This Congress can throw away the old ways of paying debt only after the spending is done. We are also reaffirming our commitment to saving every penny of the Social Security and Medicare trust funds. Ending the raid on these trust funds is the right thing to do. All in all this bill will pay down an unprecedented $240 billion in public debt in just 1 year. I urge my colleagues to vote for this measure for our children, for our grandchildren, for our seniors, and for the best interests of our Nation. For 40 years under Democrat control, we deficit-spent every year; and I think what is important is that for the last year, for the last 4 years, we have not only not deficit-spend, but the proof of the pudding is in the eating. In 1998 we paid down $51 billion. In 1999, we paid down $87 billion. In fiscal year 2000, $224 billion; and this year, we are asking to pay down $240 billion. Again the proof of the pudding is in the eating.”