Political Quotes

“Mr. President, let me quote from a piece of this. The editorial starts by noting that the President: . . . inherited a recession and responded by blowing up the U.S. balance sheet. Spending as a share of GDP in the last three years is higher than at any time since 1946. In three years the debt has increased by more than $4 trillion thanks to stimulus, cash for clunkers, mortgage modification programs, 99 weeks of jobless benefits, record expansions in Medicaid, and more. The forecast is for $8 trillion to $10 trillion more in red ink through 2021. Mr. Obama hinted in the press conference earlier this month that if it weren't for Republicans, he'd want another stimulus. Wall Street Journal says: Scary thought: None of this includes the ObamaCare entitlement that will place 30 million more Americans on government health rolls. Then they conclude: This is the road to fiscal perdition. The looming debt downgrade only confirms what everyone knows: Congress has made so many promises to so many Americans that there is no conceivable way those promises can be kept. Tax rates might have to rise to 60 percent, 70 percent, even 80 percent to raise the revenues to finance these promises, but that would be economically ruinous. It concludes: This insistence on no reform reinforces the notion that our entitlement state is too big to afford but also too big to change politically. This is how a AAA country becomes AA, the first step on the march to Greece.…”