Tim Ryan: “President Clinton said ``save Social Security first'' from that very podium. Play it smart, do not spend money you do…”

“President Clinton said ``save Social Security first'' from that very podium. Play it smart, do not spend money you do not have. I think that is one of the issues that we have talked about early on, and more so last year than this year, but all of these tax cuts that we have been given which are great, and I know a lot of people who have benefited from the tax cuts, and God bless them. But when we look at the government's financial position, we have borrowed that money. We did not have that money. There was not a surplus here that we said we have billions of dollars, let us give it back and let the American people have it. We went out and borrowed that money. So we borrowed it and gave it to primarily the top 1 or 2 percent. Then we have to pay interest on it. So really we borrowed it, we are paying interest on it and gave it to rich people who are not investing it back into the economy for the most part. Because we borrowed it, we have to pay the interest on it so there is not really a tax cut, there is a tax shift. So the next generation of Americans, they are going to have to pay this bill that we have left here. We have almost a $600 billion annual deficit for the past year. That is getting rolled into our $7 trillion debt that we have. So almost 20 percent of our annual budget that we pay down here is interest on the debt that we have. So if you keep accruing this big debt, you have to keep taking tax money to pay it off. Who is lending us the money?…”