James M. Talent: “I have a 3 year old little girl, she is going to owe $100,000 in taxes during her working lifetime just to pay the debt…”

“I have a 3 year old little girl, she is going to owe $100,000 in taxes during her working lifetime just to pay the debt service that the last generation of congressional leadership ran up on the Federal debt in the last 20 years, and I am kind of upset about that. This country, if we continue on the current course of spending, will be bankrupt inside of 10 years. It will take the entire Federal revenue to pay for Medicare, Social Security, Medicaid, and the debt service. I am a little bit upset about that. My parents believed what you did was you paid off the mortgage and left your children the farm. The last generation of congressional leadership sold the farm and is leaving the rest of us the mortgage, and I am kind of upset about that. Now what does this bill do about it in this title? It does not cut spending in this bill; it slows the growth rate of Federal spending.”