James Moran said "we were just asked to raise the statutory debt ceiling to almost $7 trillion. Why? Because of this budget. This budget increases the interest costs on our debt by over $1 trillion over the next decade. We are going to increase the debt held by the public to over $3 trillion. The question is, Who pays off this debt? It is not going to be us. Most of us will be retired. We are going to retire with the baby boom generation. We are going to join those 77 million people that will double the number of people on the retirement rolls. We are going to leave it to our kids to pay off this debt and at the same time pay for our Social Security and Medicare costs, and that is not right. That is why this budget is not right and why it should be defeated. Our kids deserve better." @ PoliticalQuotes.com

On the recordMarch 20, 2002

we were just asked to raise the statutory debt ceiling to almost $7 trillion. Why? Because of this budget. This budget increases the interest costs on our debt by over $1 trillion over the next decade. We are going to increase the debt held by the public to over $3 trillion. The question is, Who pays off this debt? It is not going to be us. Most of us will be retired. We are going to retire with the baby boom generation. We are going to join those 77 million people that will double the number of people on the retirement rolls. We are going to leave it to our kids to pay off this debt and at the same time pay for our Social Security and Medicare costs, and that is not right. That is why this budget is not right and why it should be defeated. Our kids deserve better.

Said by

James Moran

Virginia

Source

govinfo.gov

Editor's note · Context

Addressing concerns about raising the statutory debt ceiling and its implications for future generations.

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