Political Quotes

“We are going around and around here. At the end of the day, I think we need to step back from the heat of the debate and realize exactly what's happening here. In this particular amendment is an effort to try to make sure that the taxpayers of the United States are adequately compensated for the money that they have loaned for the development of the Central Valley Project and for the money that they have loaned for the specific elements within the Central Valley Project. These are the specific authorized sub-portions of the Central Valley Project. For example, with the San Luis Unit, the taxpayers loaned a vast amount of money. When you look at the details in this bill, you will find that there is a very artful way of avoiding the full cost of repayment through early repayments. The way in which the bill is written, the water districts are able to pay off their loans without having to pay off the interest, and then going forward, they're not having to share in the ongoing cost of maintenance of the major reservoirs and water facilities. {time} 1640 In other words, they are simply charged with the cost of the water, not for the ongoing operational repair and other costs. It's very interesting, very artfully done and, once again, provides an enormous subsidy to those who have had a very good subsidy for many years. It's not right. It ought not occur. The amendment before us simply says that, if you're going to get a loan, you are going to have to pay interest.…”