On the recordJune 9, 2003
When we spend without paying for it, we run up debt and you have to pay interest on the national debt. This is a family of four's portion of interest on the national debt. It is going up year after year after year. When President Clinton left office, the projection was at that time if you did not take any action the interest on the national debt, just maintain services, kept the Tax Code as it is, interest on the national debt by 2013 would be zero. Instead, a family of four's portion of the national debt would be $8,500 and rising. At the same time, the Social Security Trust Fund would stop running the surplus that we have been spending and turned into a significant deficit.
Source
govinfo.gov
