Political Quotes

“We've heard a lot of discussion here this evening about what economic policy works, where do the deficits come from. Let's just figure it out. Beginning with this man over here--I think we would all recognize him--that would be Ronald Reagan. After every year, at the end of the year, the Congressional Budget Office, nonpartisan, makes a projection of what's going to happen in the next 10 years. At the end of Ronald Reagan's period, they did their projection, and they said, voila, a $1.4 trillion deficit in the years ahead. Followed by George Bush the senior. At the end of his 4 years, they did another estimate: What's going to happen in the next 10 years? Well, let's see. That says a $3.3 trillion deficit. How about that? We were just talking about some economic policy here a minute ago. Well, let's talk about the Clinton period. At the end of the Clinton period, 8 years, another projection was made by the Congressional Budget Office: What's going to happen in the next 10 years? A $5.6 trillion surplus, enough to pay off all of the American debt. How did it happen? How did it happen? It happened this way: Early in his administration, they set about to deal with the deficit. There was a tax increase. It cost my Democratic colleagues the House. But they did it. They put it in place. And they also put in place PAYGO and the balanced budget amendment.…”