Sylvester Turner: “my point was that we can increase the national debt by either spending or by greater tax cuts, and we are in a position…”

“my point was that we can increase the national debt by either spending or by greater tax cuts, and we are in a position right now where we are projecting a $5 trillion deficit over the decade. Ten years from now the national debt will be twice as what it is under the Republican budget. Today it stands at a little over $6 trillion. In 10 years it is going to be $12 trillion. We will be paying interest in excess of the largest category of Federal spending, and that is defense, in 10 years. So do not say that the differences are we are against tax cuts, or we are for spending and we are against tax cuts. We would love to cut taxes just like you do, but we believe you have to be intellectually honest about it. Just as Mr. Peterson said in this article in the New Yorker, and I will quote, ``For some supply side Republicans, the pursuit of lower taxes has evolved into a religion; indeed, a tax cut theology that simply disregards any objective evidence that violates the tenets of the faith.'' He says, ``The star of the government at the source strategy is not only hypocritical, it is likely to fail with great injury to the young.'' So what we are doing is passing on a debt. We are passing on a debt to a future generation by the blind pursuit of an irresponsible fiscal policy, and the Republicans are in charge, and the Republican Party is doing it.”