Political Quotes

On the recordMarch 25, 1998
That has got to be an ultimate goal. The other goal that the gentleman from Colorado and I both agree with is we have got to start paying down the Federal debt. Right now, the interest on that $5 rac{1}{2}$ trillion that the Federal Government has borrowed represents 15 percent of the total Federal budget. So we are going to use a lot of this extra money that it looks like it is coming in in surplus and, to be sure, it is not a real surplus, because we are borrowing from the Social Security trust fund. I thank the gentleman from Colorado very much for participating in this hour.
Said by
Nick Smith
Republican · Michigan
Source
govinfo.gov

Editor's note · Context

Discussing the need to pay down the Federal debt during a floor speech.

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