Plus, 40% of our debt is owned by foreign interest. I can't support a plan that passes along cost burden to our children and makes us more reliant on foreign dollars.
Sentiment: NEGATIVE
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.
But obviously, we're looking for all good ideas to help deal with our long-term debt problem. This is something that is going to affect our economy. It affects our kids. And we need to deal with it.
Massive debts owed to foreign creditors weaken our global influence and threaten high inflation and steep tax increases for our children and grandchildren.
I can tell you if you look at the polls, Democrats, Republicans, Independents, they do not think we should increase the debt limit.
I think if we can get people focused to do what we need to do to keep our kids from being stuck with this debt that they didn't accrue, you might be surprised at how far we can move this conversation.
I think at the end of the day we have to raise the debt ceiling, because America pays its bills.
We still have a major problem in debt with America that we have to find efficiencies in government to get us back to a balanced budget.
If we weren't running deficits, if we weren't spending more than we were taking in, there would be no reason whatsoever to increase the debt ceiling.
The problem is that the U.S. government is the biggest debtor in the world, and those depending on it to take care of them will only become poorer.
We have mountain of debt that isn't going away and all the problems are here to stay, and anybody who tells you that is a good thing ought to get out of the business of helping the government down the road.
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