Sylvester Turner: “That is correct. As we said, by 10 years, the end of the budget period that we are now looking at, the tax paid by every…”

“That is correct. As we said, by 10 years, the end of the budget period that we are now looking at, the tax paid by every family would be $8,458, just in interest. Today, 18 percent of every tax dollar collected by the Federal Government goes to pay interest. To look at it another way, if you took only the Federal personal income tax, about 25 percent of every dollar we pay, 25 cents out of every dollar that we pay, goes just to interest on the national debt. What a waste. We talk about wasteful spending, there is no greater waste in any area of spending than what we waste every year just paying interest on this debt that we have accumulated. The Blue Dog plan is to stop that hemorrhaging.”