Political Quotes

“So that was to freeze the level of expenditure and to put in place tax policies so that your oil company executive would begin paying a fair share, rather than getting a very significant tax break, beginning to pay their share back into this economy. Over time, and this was about in 7 years, the percentage of the GDP, the gross domestic product, that was to debt, or to the deficit, would fall from around 11 percent down to about 3 percent, so that it would be managed over time. Going back to your analogy, you've got all of those debts built up during the 2000 to 2010 period or 2008 period, and then, taking time, 6, 7 years, to bring it back under control, not with the kind of chaotic cuts that are now being proposed by our Republican friends where we would actually slow down the economy, throw some 700,000 people out of work, reducing tax revenues, increasing unemployment, unemployment expenses go up, hospital, emergency room expenses go up because people no longer have health care, and on the other end, people losing their homes. They don't have a job, you can't pay the mortgage, you're going to lose your home, so the housing market would also be hit as a result of the proposal that actually passed this floor with Republican support. I think there were only three or four Democrats who voted for it. We need to have a wise policy. We need to make cuts. To be sure, we need to make cuts.”