[Congressional Record Volume 156, Number 167 (Thursday, December 16, 2010)]
[House]
[Page H8524]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              THE DEFICIT

  (Mr. LYNCH asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. LYNCH. Later on today, Mr. Speaker, we will address this bill 
which would award a tax cut for the richest 2 percent of Americans, and 
it's important that we understand the context in which this bill is 
being addressed. In this current year, the government has taken in $2.4 
trillion in revenue, but we have spent $3.7 trillion. And so we have a 
deficit of $1.3 trillion. If this bill passes, it will add almost $1 
trillion to our national debt.
  At current rates, by the year 2040, the interest on the debt will be 
double the amount that we spend on defense, education, transportation, 
agriculture, housing, the space program, science, and research and 
development. We can't keep kicking the can down the road and not 
address our national debt. We're running out of road, we're running out 
of time, and the American people deserve a better deal.

                          ____________________