We've taken the view that if the rest of the world would democratize and create market economies, that would spread the benefits of prosperity around the world, and that it would enhance our own prosperity, and our own stability and security, as well.
As I said a moment ago, there is no higher priority in our budget, or certainly in the budgets of the past few years, than providing for what is needed for the protection and security of our country and support of our troops.
Mr. Chairman, on September 11, we were attacked by terrorists who took advantage of weaknesses in our border security. After infiltrating our country, the terrorists were able to conceal their real identities, and thereby plot their attacks without fear of being apprehended.
In fact, entitlement spending on programs such as Medicare, Medicaid, and Social Security make up 54% of federal spending, and spending is projected to double within the next decade. Medicare is growing by 9% annually, and Medicaid by 8% annually.
To my knowledge, the Department of Homeland Security has focused on detection devices that are large, expensive, use a large amount of energy, and cannot easily be placed in or on a shipping container.
The rate of return on Social Security for people nearing retirement is about 1.5 percent. By the time young children like mine are ready to retire, that rate of return will be a negative percentage.
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.
The other thing about FEMA, my understanding is that it was supposed to move into the Department of Homeland Security... and be what it was, but also having a lot of lateral communication with all those others involved in that issue of homeland security.
Well, it's taken a long time to get the Department of Homeland Security established. It's taken a long time for the Congress to decide how much it wanted to fund.
If the militarily most powerful - and least threatened - states need nuclear weapons for their security, how can one deny such security to countries that are truly insecure? The present nuclear policy is a recipe for proliferation. It is a policy for disaster.
Our volunteer fire departments know their needs better than Washington, D.C. They need more flexibility on spending grant money from FEMA and Homeland Security.
Even the Congressional Budget Office and the Social Security trustees appointed by the president say that Social Security is financially sound, without any changes for the next 40 to 50 years.
It has to have a payroll tax that's dedicated to Social Security. The Social Security tax has been very successful over the years in raising almost all of our elderly citizens out of poverty.
