"Let's run up the debt and taxes on our grandchildren!"

That could be the slogan of the Obama administration and the liberal Democrats who control Congress. On every front they are increasing spending, increasing taxes, or both.

The latest idea is to throw away $13 billion on a one-time $250 check per senior citizen. Someone should calculate the interest on the additional debt their grandchildren will pay over their lifetimes for this "free" gift.

We need a national debate on priorities and honesty. Young people will have a hard time finding jobs this year. Increasing the deficit will weaken the dollar and make job creation even harder. The Bush one-time check in 2008 did not help the economy. An Obama gift of our grandchildren's money to their grandparents won't, either.

Will no one in Washington learn the lesson that we need to control spending, cut taxes, keep interest rates low and create jobs? That is the Christmas gift every American needs. 

Newt Gingrich is a senior fellow at AEI.