Tim Ryan: “So not only is the government not making the investments to keep tuition costs down, not making sure that we try to…”

“So not only is the government not making the investments to keep tuition costs down, not making sure that we try to invest our money to reduce the cost of health care and Medicare and Medicaid, SCHIP, and some of these fundamental programs that we all believe in. We are not only not making those, but here is the critical components because, as you said, you get the additional burden of the interest rates going up for credit cards and everything else that ripples throughout your own than personal life. Here is the kicker. Of that red graph there, that red bar of net interest that we are paying interest on the debt, where are we getting the money? That is the question that we ask. Where do we get the money to close the budget deficit? Here it is, ladies and gentlemen: Foreign debt held doubled under the Bush administration to over $2 trillion. So we are not only spending money we don't have, we are not only giving millionaires tax cuts. But in order to close the gap, we are borrowing the money from the Chinese, OPEC countries, the Japanese in order to close this gap. So our kids are going to be paying the Bank of China and the Bank of Japan and the countries from OPEC, which is totally, totally ridiculous as to what our priorities need to be. So we need to get this budget balanced. I want to make one final point before I kick it back to you guys. We are going to ask people who make millions of dollars a year to pay more in taxes, because they have benefited from this system.”