On the recordJanuary 26, 2010
I thank the gentleman for his comments. I'd like to talk a little bit about what those economic consequences are, not just for our children and grandchildren, which should be our greatest concern, but not too far down. And in a moment I will turn to the gentlemen from Texas and Colorado and ask them, to get the benefit of their thoughts about what the consequences are of these deficits running as far as the eye can see if we don't pass a balanced budget amendment to the Constitution and start living within our means like every family, every business, large and small, every local government, and yes, even every State government, some of which are not managed very well. But they have to come to terms with the consequences of their actions a lot more quickly than the Federal Government ever has because of the fact they don't have this requirement to balance the budget, and every year they kick the can down the road. They say, We can have it all, and we'll just borrow more money to pay for it. Well, I've asked high school students when they have come to see me or when I've had an opportunity to speak to them in their classes, I said, Who do you think is going to bear the burden of this debt that we're piling up? And they know the answer to that.
