It has been very well pointed out by the speakers before me that this country is right now laboring with a 13 percent mortgage on us. Over $300 billion a year. Now, my colleagues, no rational businessperson on earth, with a 13 percent mortgage on his business, would not make it a priority, when he came into some extra money, to reduce that staggering overhead. My colleagues say the American people are overtaxed. We agree. And the reason they are overtaxed is because they are lugging around a 13 percent mortgage on themselves and their country. Now, President Eisenhower said one time that he considered no money here in Washington a surplus as long as the Nation's children had a debt. It is simply wrong to leave this country to our children, our posterity, with water so dirty that fish cannot live in it, air so polluted people cannot breathe it, and a 13 percent mortgage on it that they are going to have to strain and struggle and pay for eternity. That is simply wrong.
Editor's note · Context
Discussing the implications of national debt and the need for tax relief.
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