Political Quotes

“We are going to talk tonight about this debt ceiling, this mysterious debt ceiling that we hear so much about. I am joined by two of my colleagues who have strong ideas about this, as well. I want to just relate something to America, so you can hear this. We had a meeting several weeks back talking about the debt ceiling. I don't think anybody had ever asked this question, and I started asking it at every meeting. I said: How much does the Biden administration want to raise the debt? We stand at $34.1 trillion now. We spend $6.1 trillion a year, but we raise $4.9 trillion. Every month, we fall short by about $100 billion. I said: How much do they want? Well, when I first started asking the question, everybody says: I don't know. We don't know. Now, it is $4 trillion. That is what I am hearing, $4 trillion. Tonight, we heard $3.5 trillion. In any event, it is $3.5 trillion to $4 trillion. I asked the next question. I said: Look, I really want to know what happens if we don't lift the debt ceiling. I don't know. These guys might have been there. The fellow was nonplussed. This former deputy at the OMB, the Office of Management and Budget, an economist, stood there for probably 2 minutes. Nobody had ever asked him that question before. He says: Nothing. Nothing will happen. I said: How can that be? I am hearing that it is collapse city. Tell me, how can that be? He said: All the bills go to OMB.…”