Political Quotes

“We have 30 minutes here, and I am trying to do sort of a wrap-up. As folks know, the House actually passed a continuing resolution. I personally wish we had battled it out and stayed and just tried to see if we could get the Senate to do some of the work. I have been trying to find ways to get this place and the U.S. Senate, but also voters and, Heaven knows, the Presidential candidates to take seriously the demographics and what is going on in our country but also the world. We are not the only one. I am going to bring, as I often do, the boards, but let's try to put this in a type of perspective. This article says that the world has now surpassed its record of debt. Believe it or not, it was during the Napoleonic wars that the amount of debt in the world actually skyrocketed. Congratulations. Right now, I think world governments are $312 trillion in debt. Why is that important? Well, the burn rate of the United States, we are burning right now-- remember, this is a fairly decent economy, and we are borrowing about $70,000 a second, every day, $70,000 a second. I am going to show you some boards to sort of walk through this. Do you think there is this ocean of capital in the United States and around the world that is really excited to keep buying U.S. bonds and just keep buying them and keep buying them and keep buying them?…”