On the recordFebruary 14, 2012
I thank my colleague from South Dakota as well as my colleague from Alabama, the ranking member of the Budget Committee. I was deeply troubled this morning, because I asked Mr. Zients about the President's budget and my concern that under the trajectory of the President's budget we would be reaching $26 trillion of debt in the next 10 years, and I was shocked when he described the President's budget as a milestone, as leadership. This to me is not leadership. If it is a milestone for anything, this budget is a milestone for bankruptcy and what we see happening in Europe and other areas of the world that we don't want to happen to our country. When I think about it--I am the mother of two children--how could we possibly ask our children to pay back $26 trillion in debt? It is outrageous. I was surprised that Mr. Zients couldn't answer a basic question such as how much debt has been added under this President. As the Senator from South Dakota mentioned, it is close to $5 trillion in debt. Also our entitlement programs. I know my grandparents are relying on Medicare and Social Security. I asked Mr. Zients--the Medicare trustees have said that Medicare is going bankrupt in 2024. We know Medicare is a huge driver of our unsustainable debt and that if we don't act to preserve these programs, then the people who are relying on them are going to be put in a horrible position very soon--2024 is coming very quickly. I asked Mr.…
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