Political Quotes

“This evening, we are going to actually do a handful of things. Some of this is just sort of responding to some of the absurd conversations I have had this week. This is my moment when I apologize to the stenographer and clerk. Much of this you will have already heard, but it bears repeating because I actually sat down with a group of congressional staff, and it was one of those sort of passing conversations where you sit down and the Republican and Democrat staff is there, and they didn't understand some of the most basic numbers of what is going on around us. The first thing we are going to start with here--how many of you picked up a newspaper and heard anyone talk about the debt ceiling? Apparently, it is a really big deal. Fine. Then, you hear them say things like it is default if we don't just raise it. No, that is not how it works. Default is when you do not pay back your bonds. It is still really important. We are going to ultimately have to raise the debt ceiling. Can we do something that is also going to be very important? Can we do it in a fashion where we message to the world debt markets that we are taking our debt seriously, that we understand the curve is unsustainable? We are going to walk through a bunch of boards that basically show the scale of the debt that is coming. Once again, default is when you do not pay back your bonds. We actually had a Treasury Secretary under President Obama.…”