Political Quotes

“Mr. President, during the past few weeks, President Obama has repeatedly professed a commitment to clamp down on out-of-control spending and on deficits. That new development, of course, appeals to many Americans who have become increasingly frustrated with the trillions of dollars in new debt that has been racked up by this administration. The President's newly released budget tells a different story, and it is not one of fiscal responsibility. Just look at the front-page headlines from many of today's morning newspapers and you will see a helpful review of what they think of the budget. The Wall Street Journal: ``U.S. Deficit to Hit All-Time High.'' The Washington Post: ``White House Expects the Deficit to Approach a Record $1.6 Trillion This Year.'' The Washington Times: ``White House Says the Government Will Run Huge Deficits for the Foreseeable Future.'' The publication Politico: ``Five Years, $5.08 Trillion in Debt.'' In other words, this $3.8-trillion budget is another sea of red ink, more of the same record spending and debt that have come to characterize this administration. Let me go over some important numbers. Under the President's budget, the deficit, which is the gap between total revenues and total spending in a given year, will reach a whopping $1.56 trillion for the fiscal year 2010. For fiscal year 2011, the deficit is projected to be $1.3 trillion. That will mark the third year in a row of trillion-dollar- plus deficits, beginning in 2009.…”