Political Quotes

“as we continue in this historic debate, I would like to take a few minutes of the Senate's time to share a perspective on the extraordinary burden that our accumulated deficits-- 34 years of deficits in the last 35 years--have placed on the capacity of our Government to operate. I will have more to say at another time, but for now I want to focus specifically on the $4.8 trillion accumulated national debt. You have heard a lot lately of the fact that the deficit has declined for 3 consecutive years. A big part of that decline is a direct result of the growth of the economy that began in the late stages of the Bush Presidency when the country began to emerge from recession. The remaining deficit decline, in my opinion, can be attributed, to a large degree, to President Clinton's record tax increase, which has temporarily increased Federal tax revenues. Further, we have had substantial cuts in spending. But the reality, Mr. President, is that the decline in the deficit is but a temporary phenomenon. According to the Congressional Budget Office [CBO] in every year, starting next year, 1996, and for the unending future, the annual deficit, unfortunately, is on the rise.”