Darlene Hooley: “economists and the Congressional Budget Office agree: We have a budget surplus starting in the year 2001, which will…”

“economists and the Congressional Budget Office agree: We have a budget surplus starting in the year 2001, which will grow to $164 billion by the end of the year 2009. Let me tell my colleagues when I talk to people in Oregon what they say about the budget. First of all, Oregonians believe we need to keep our budget balanced, we need to pay off the huge national debt, and we need to make sure our future generations are not left holding the bag for our generation's party. Leaving behind a debt that we did not have the moral fortitude to pay off is simply wrong. Reducing the national debt now, economists predict, will result in a further decline in interest rates. Now, let me tell my colleagues, lower interest rates are good for the homeowner, they are good for the businessperson, they are good for the farmer, and they are good for the student in the classroom. Mr. Speaker, last year we spent, listen to this number, $243 billion, billion, of Federal taxpayers' money on the interest. That is four times what we spent on education. Four times. As a member of the House Committee on the Budget, I want to take this opportunity get our fiscal house in order.”