Bob Dole: “in January 1961, Dwight Eisenhower gave his last speech as President to the American people. And in those remarks, Ike…”

“in January 1961, Dwight Eisenhower gave his last speech as President to the American people. And in those remarks, Ike offered some advice which should be remembered by all of us in the Senate--and all Americans--as the Federal budget moves to the top of our agenda in the coming weeks. Eisenhower said, and I quote: As we peer into society's future, we must avoid the impulse to live only for today, plundering for our own ease and convenience the precious resources of tomorrow. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, and not to become the insolvent phantom of tomorrow. It has now been over 34 years ago since President Eisenhower spoke those words. And as everyone here knows, they are words that have been tragically ignored. When Ike left the White House, our national debt stood at approximately $248 million--$248 million. Today, it is $4.8 trillion. And it continues to grow by $355,000 each and every minute--that is $482 million a day--far more than our entire debt in 1961. There can be no getting around the fact, Mr. President, that America is at a crossroads, and we face a choice. Down one road is the status quo. It is a road that means living for today, plundering the resources of tomorrow. It is a road that means we continue to mortgage the assets of our children and grandchildren.”