Political Quotes

“Mr. President, I want to respond today to some statements President Obama has been making on the campaign trail regarding debt, spending, and taxes during his administration. Last week, the President said he should not be blamed for the massive debt and spending in recent years because, in his words, it was all ``baked into the cake'' when he took office. He also contended that his administration has done the responsible thing in taking steps to fix our Nation's fiscal problems. Here is the totality of what the President said: I love it when these guys talk about debt and deficits. I inherited a trillion dollar deficit. We signed $2 trillion of spending cuts into law. Spending under my administration has grown more slowly than under any President in the last 60 years. They baked all this stuff into the cake with the tax cuts and the war. I would like to respond to each of the President's comments. First, on deficits and debt, President Obama is not the reformer he makes himself out to be. Since he took office, the national debt has climbed by $5 trillion. It is now larger than the entire economy. If we take his entire 4 years and all of the Presidents before him, he has incurred as much debt as all of the Presidents, from George Washington through George W. Bush, just in his time as President. Yearly deficits, which is the gap between revenues and spending, have grown substantially as well.…”