Jack Kingston: “Let us talk about 1969 for a minute. In 1969, Jimi Hendrix was probably coming out with ``Are You Experienced?'' That…”

“Let us talk about 1969 for a minute. In 1969, Jimi Hendrix was probably coming out with ``Are You Experienced?'' That was his album. The Beatles, I think, were coming out with the White Album. They had just probably found Paul. There was the ``Is Paul Dead/I Am the Walrus'' debate with the Beatles. The Beatles had not broken up yet. Elvis was making his comeback. Elvis was still alive and doing fine in Graceland and all over America. Neil Armstrong was about to walk on the Moon in July 1969. Richard Nixon was in the White House and serving his first term in the White House. Nineteen sixty-nine. That is when we are talking about we had the last balanced budget. This is absurd. This is the United States of America. This is not the value system that you and I were raised with that says Congress could go on spending money, more than it brings in year after year and do what I call the kids' tax. Now, the way the kids' tax works is a real popular tax in Washington. That is when we in Congress spend more money than we are bringing in on new programs to get us reelected and we send the bill to the kids. It is the equivalent of going out to eat and having a big time on the town and on the way out the door the man says, ``Your bill comes to $78.'' You say, ``Don't worry about it. Send it to my 4-year-old 20 years from now. He'll pick up the tab.'' It is the kids' tax and that is what we have gotten comfortable with since 1969 passing on the debt to the children of America.”