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This debt crisis coming to our country. The wall and tidal wave of debt that is befalling our nation. Medicare and Social Security go bankrupt within ten years, we have a debt that is looming so high that in the last year of President Obama's budget just the interest payments on our debt is $916 billion dollars.

We have managed to acquire $13 trillion of debt on our balance sheet. In my view we have nothing to show for it. We haven't invested in our roads, our bridges, our waste-water systems, our sewer systems. We haven't even maintained the assets that our parents and grandparents built for us.

When George W. Bush entered office, the national debt was $5 trillion. When he left, it was $10 trillion. I think the administration spent too much money.

I think that, you know, this is a different year than most years. We've got to tell the American people that we have to live with less. We have a $13.5 trillion debt. And the only way to do that is an honest campaign with honest people.

I really truly worry that the debt is one of the single biggest threat to the United States of America, that we're talking about a problem that is multi-trillion in its depth and I think we ought to be cutting more.

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.

Obviously, there has to be a profound change in direction. Otherwise, interest on the national debt will start eating up virtually every penny that we have.

I can tell you if you look at the polls, Democrats, Republicans, Independents, they do not think we should increase the debt limit.

I've got a chart here that shows our debt-to-GDP ratio. And while we did run deficits in the past, we now number our debt in trillions rather than in billions. And I think that represents a long-term danger, especially to the, the American dream.