That's right, Trent. Paying off the debt does make sense for two reasons. First, paying off debt means that we're running budget surpluses, and that means we're no longer raiding Social Security and Medicare surpluses for extra government spending. By running surpluses in Social Security and Medicare, we make certain that funds are available to reform these programs, so that when the baby boomers retire, we have the resources to take care of their retirement needs. We also strengthen our economy.
Economic security is enhanced when our government makes the right choices for the future.
Paying off the debt is one of those choices. And that is why the Speaker and I have come up with a common-sense plan to promote economic security and fiscal responsibility. Let's take 90 percent of next year's federal budget surplus and use it to pay off debt while protecting 100 percent of the Social Security and Medicare trust funds. That still leaves 10 percent of the surplus to boost our already substantial 600 billion dollar commitment to our national priorities such as education, defense, and health research. Specifically, we'll use half the money to strengthen education with the flexibility, funding, and support to give our children the world's best schools.