Political Quotes

“Mr. President, I rise to speak about a critical subject too often overlooked by Congress. It is the Federal debt and our deficit. It is no secret that our national debt will soon surpass $20 trillion. To provide some context for that figure, $20 trillion represents the largest amount of debt ever owed by any nation in history. This fact, coupled with the fast-approaching end to our fiscal year, will leave Congress facing an unavoidable debt debate. Our looming debt and deficit are two of our country's most urgent challenges, but the legislative branch does not treat them like the crises they really are. Since January alone, Congress has added $284 billion to the debt over the next 10 years. The Congressional Budget Office recently projected that if Congress continues on its current path, deficits will increase dramatically over the next decade. Specifically, by 2027, the deficit will grow from 3.6 percent of the Nation's GDP to 5.2 percent of the Nation's GDP, totaling $1.4 trillion. Yet, as the National Debt Clock continues to click upward toward $20 trillion, the Federal Government continues to spend money that it simply does not have. If Congress continues to legislate in this current state of denial, one day soon, we may well wake up to discover that the financial markets have declared that the United States is no longer a good bet.…”