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A national debt, if it is not excessive, will be to us a national blessing.

It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.

Every generation has an obligation to leave its children in a better position than it inherited. Our representatives in Washington are breaking faith with that covenant. America must reduce its federal spending and accumulation of debt for the sake of generations to come.

Today, as we look back on the history of our nation and take note of how far we have come as a people, we are reminded that we owe a great debt to those who fought valiantly for the freedoms that we easily take for granted.

What we are effectively doing, I say this to the young people of America whom my colleagues represent, is leaving our children and grandchildren the tab for fighting a war, letting them pay for the lion's share of it by simply adding it to the national debt.

Young people deserve stable employment opportunities and not mountains of debt. When young people can access the middle class, America is strengthened.

The baby boomers owe a big debt of gratitude to the parents and grandparents - who we haven't given enough credit to anyway - for giving us another generation.

We have been maintaining a standard of living by putting things on the debt of the next generation.

We can never fully repay the debt of our proud nation to those who have laid down their lives for our country. The best we can do is honor their memory, ensure that their sacrifice is not in vain, and help provide for their families.