Jeremiah Smith: “last night I had the privilege of personally witnessing President Bush deliver remarks outlining his budget for America…”

“last night I had the privilege of personally witnessing President Bush deliver remarks outlining his budget for America and outlining the priorities of that budget. I must say, it was refreshing, for one who has long fought over the past 16 to 17 years in both the House and the Senate, to hear tax cuts being proposed, and not only tax cuts being proposed, but also the opportunity to finally downsize the national debt so we can stop mortgaging our children's future. The President, in that plan for America's priorities, included tax relief, debt reduction, and some much needed reform for some very important programs. One of the negatives over the past 20 or 30 years is that as our deficits and our debts became larger, many times we neglected a lot of key initiatives, areas where the Federal Government could be helpful to the American people. So it is a pleasure to see the debt diminished and money being returned to the taxpayers at the same time, and, in conjunction with that, we are going to provide dollars in much needed areas. I want to talk about that. First, in President Bush's budget, we will see the largest debt reduction in American history. Think of that: The largest debt reduction in American history. It is good news and bad news. It is good that it is the largest debt reduction; it is bad that we have debt that large in the first place. The key thing to understand is that this proposal pays down the national debt by $2 trillion over the next 10 years.”