Thanks to decades of accumulated federal budget deficits and, more significantly, imprudent Medicare and Social Security policies, we've stolen almost $60 trillion from our children.
Sentiment: NEGATIVE
Seven hundred and sixteen billion dollars, funneled out of Medicare by President Obama. An obligation we have to our parents and grandparents is being sacrificed, all to pay for a new entitlement we didn't even ask for. The greatest threat to Medicare is Obamacare, and we're going to stop it.
Now we are raising the debt limit 3 times, up to $8 trillion, so that our children and our grandchildren will have to pay for the cost of our expenditures.
All of us have to recognize that we owe our children more than we have been giving them.
You know, we have a fiscal train wreck before us. And unless we act, and act deliberately, we're not going to enable our kids to have what we have. It's plain and simple as that.
As a matter of fact, if you do not take into account, as Congressman Ross just stated, the Social Security surplus, our fiscal deficit, ladies and gentlemen, is over $700 billion today.
I don't want to remember 2005 as a year that the government heaped unnecessary burdens upon American families. Stealing from the poor and middle class and giving to the rich, while increasing the deficit, is hardly responsible.
We've had years and years and years of compromises, and that's led to $14 trillion in debt.
A billion dollars every week for Iraq, $87 billion for Iraq. We can't get $5 billion for childcare over five years in welfare reform.
Every American born today owes $43,000 to the federal government the day she or he is born. And we are transferring a tremendous amount of debt to the new generation, much of it owed to overseas creditors who expect to be repaid by our children with interest.
Generosity has built America. When we fail to invest in children, we have to pay the cost.