Political Quotes

“Why do we need a balanced budget amendment? I will suggest three reasons. First is rather straightforward: Spending is out of control. The second is that taxes are out of control, driven by the insatiable appetite for more and more Federal spending. The higher taxes are, themselves, the reason for economic stagnation, the lack of new job creation and less individual freedom. The third is that it is the right thing to do and that laying off our obligation to pay for the spending that we occasion this year is the wrong thing to do. Since 1969, Federal spending has increased on an annual basis more than 800 percent. Now, in 1969, it was a guns-and-butter year, and yet the entire Federal spending from 1969 through 1973, 5 years, is less than Bill Clinton's 1994 budget for 1 year. Sixty percent of next year's deficit will consist of the new spending that Congress has added to 1993 levels. Spending is running out of control. And yet the Clinton budget proposes additional spending of $1.475 trillion on top of the current levels for the years 1994 through 1998.”