Jack Kingston: “What I wanted to talk about a little bit is the budget and the budget process, the situation that we are in, because…”

“What I wanted to talk about a little bit is the budget and the budget process, the situation that we are in, because recently the Senate Democrats voted down the balanced budget amendment. All the balanced budget amendment really said is that the Congress of the United States and the President would each year pass a budget that was balanced. No mystery to it, Mr. Speaker. All it meant was whatever we bring in, that is what we spend. I would love to see us spend less than what we bring in. I would certainly settle right now to say just, 'You don't spend more than you bring in.' But I guess the President and the Senate thought that was too controversial of a concept for us to pass a balanced budget so they voted it down and great for them. What is the situation that we are in right now? Well, for the children of America, I have got four kids and I know the Speaker has a large family, also. We are concerned about our children and their future. What will this leave for the kids? Today our national debt is $5.1 trillion. We have not had a balanced budget since 1969. If we look at that in terms of what it will mean to kids, kids who are graduating from school and going to work today will have a higher tax burden than any other graduating class in the history of the United States of America. They will have higher interest rates as a result of a budget that is not balanced, and they will have less job opportunities.”