William Tauzin: “we have heard talk about the fact that American families borrow money. They do. And American businesses borrow money.…”

“we have heard talk about the fact that American families borrow money. They do. And American businesses borrow money. They do. The difference between American families who borrow money and American businesses who borrow money is that they pay it back. When they make loans they also have a payback schedule. This Government has none. The debt in this country continues to grow every year, the interest piles up and we load it on our children without regard to what it does to them or our future. That ought to end and it ought to end today. Second, we hear that Social Security might be threatened unless we adopt the Wise constitutional amendment to the balanced budget on this balanced budget issue. Let me tell you emphatically if Social Security is to be protected in this country we have got to stop building up debt, and we need a real balanced budget amendment, not a phony one, one that really works. And if you want one that works, be worried about this one. This one works. It is the best way to protect Social Security because we put our house in order, we quit building up debt and then we will not have to borrow from the Social Security trust fund as we did so recently in this congressional history. Finally, this is a debate about tax limitation. Currently, Americans work until May 18 for the Government somewhere. They work almost half the year to pay taxes to some Government. They do not begin working for their families until after May 18.”