Mark Neumann: “Well, I think the logical next step in this whole thing is the answer to that question. That is, after we balance the…”

“Well, I think the logical next step in this whole thing is the answer to that question. That is, after we balance the budget, we still have that $5.3 trillion debt that our generation is going to give to the next as a legacy if we do not do something about it. So while things have changed a lot since 1993 and the broken promises and tax increases of the past to a point where we are on track balancing the budget and providing tax relief to the people, restored Medicare, good things, but we have to ask, where are we going next? And the answer to that is, we need to start making payments on the $5.3 trillion debt, and the easiest way to describe what we are suggesting that we do in our legislation, I know we have cosponsored this bill together, and people in Pennsylvania are very fortunate to have a person like yourself here to help with this kind of legislation; what we are doing is proposing, very much like on a home mortgage, just like all the folks out there that have a home, and they borrow money to buy the home, they make payments on their home mortgage, we are effectively suggesting that we do exactly the same thing in that $5.3 trillion debt. We have introduced a bill called the National Debt Repayment Act, and what the National Debt Repayment Act does is, it caps the growth of Washington spending, it controls the growing Washington spending, at a rate 1 percent lower than the rate of revenue growth, and it has to be at least 1 percent lower. That creates a surplus.”