Mr. Speaker, it is now $60 billion of annual interest, money for bankers and bondholders, not doctors and nurses, and $3,400 from every family will go to pay interest on the federal debt this year. That number will go up by 50% over the next five years. This is the fastest-growing item on the government's budget right now: interest on the debt.
It will enrich the bankers and the bondholders at the expense of hard-working people and threaten the future of our kids. That is why we need to restore fiscal responsibility, balanced budgets and controlled spending.