James Davis: “I just want to highlight one more time what we have been talking about tonight, and that is that there should be no…”

“I just want to highlight one more time what we have been talking about tonight, and that is that there should be no greater priority in this Congress than paying down the $5.3 trillion Federal debt. We are living in a time of uncertainty. We have got a difficult situation. We are going to do our best to manage in Kosovo. We have got an incredibly healthy economy, but we cannot be certain what lies ahead. The most prudent thing for us to be doing right now is to make paying down this massive Federal debt our highest priority. There are three good reasons why we ought to do that. First is, it is the right thing to do for our children and grandchildren. We should not force them to inherit this massive debt. The second reason is, it will help us prepare Medicare and Social Security for the retirement of the baby boomers, because those funds that we set aside by virtue of paying down the debt can be used as the baby boomers begin to retire and put more strain on Medicare and Social Security. Finally, it is the best thing we can do here in Congress to assure that this economy will stay healthy.”