Angie Craig: “I thank the Chair. I will not take much more time to discuss the Graham amendment other than the disagreement that he…”

“I thank the Chair. I will not take much more time to discuss the Graham amendment other than the disagreement that he and I might have as relates to the ceiling that is created, and while I would argue that what he wishes to accomplish is impossible to do, and that is a buy down of debt, unless by this whole character of activity here from now until the year 2019 we have changed the whole culture of political pressure in this country and interest group activity, my guess is that the pressure to spend money, if the system would allow it, beyond the balance because of the limit on the debt ceiling, would be great. He and I recognize the tremendously laudable goal of trying to buy down debt, and I think Americans are all asking us, well, if you in fact can get the budget balanced in the timeframe that you are suggesting, does that mean then we are going to get rid of some of this debt, because interest on debt is going to be even higher by the year 2002 than it is today because we are still creating debt. Even under our scenario, as conservative as it is and as damning as this administration thinks it is, we are still going to be creating lots of debt out there because we are still deficit spending. Although ours is declining and the President's is in reality increasing, we are still creating debt. So I do not blame the Senator from Florida for wanting to find a time in which we can buy down debt. I would like to do the same.”