Political Quotes

“It is a rather important day today. Sometime today or in the next 24 hours, the United States Treasury will run out of its ability to borrow money, that is, to roll over its debt, to pay all of the obligations that the United States Government has. I guess, even this morning, we remain the world's biggest economy. We certainly remain the oldest democracy; although, that seems to be somewhat in doubt here on the floor of the House of Representatives where we don't operate as a democracy. We really operate more as a dictatorship, or at least as an oligarchy, in which one or two or a handful of people makes the decision for the majority of the House. It is a very, very, very important moment that this Nation moves towards, the moment in which it, for the first time in its history, would default on its payments, default on its debt. We have already seen the effects of this. Banks all around the world are selling, that is, getting out of America's short-term obligations or those obligations, bonds, that are due now or in the next week or so. So they are shedding American debt. They are running away from the world's reserve currency. Why?…”