[Congressional Record Volume 149, Number 40 (Wednesday, March 12, 2003)]
[House]
[Page H1754]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               THE BUDGET

  (Mr. HONDA asked and was given permission to address the House for 1 
minute.)
  Mr. HONDA. Mr. Speaker, my goodness, what a difference 2 years make.
  Two years ago, Republicans argued that the projected $5.6 trillion 
surplus was so huge and so certain that they could accommodate large 
tax cuts and increases in domestic spending, while still having enough 
to provide for unseen events. In fact, they even worried that the U.S. 
may pay off the public debt too quickly.
  Today that $5.6 trillion surplus is gone and has been replaced with 
deficits as far as the eyes can see. Our national public debt has risen 
to $6.4 trillion, the highest amount in U.S. history.
  In fiscal year 2002, American taxpayers spent $333 billion paying 
interest charges on our national debt, which translates to nearly $1 
billion per day, every day.
  That total is more than the government spends on education, 
transportation, child nutrition, homeland security, and the environment 
combined.

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