On the recordMarch 7, 2001
The most wasteful thing this Nation does is to squander $1 billion a day each and every day on interest on the national debt. We did it yesterday. We did it the day before that, the day before that. We will do it tomorrow and we will do it every day for the rest of our lives if we do not retire this debt. That is what the interest payment is. It is more money than we spend on defense. It is more money than we spend on Social Security. It is more money than we spend on veterans health care. It is more money than we spend on anything. It is squandered. It does not educate a child. It does not build a highway. It does not defend our Nation. It is squandered. It tends to go to the wealthiest Americans, the very people who will get the biggest benefit of this tax break.
Source
govinfo.gov
