Political Quotes

“I thank the gentleman from New York for the time and for his work on this vital issue. I am opposed to raising the debt ceiling limit. How in the world can we raise the debt limit when the Senate refuses to work with the House to even pass a budget? The Senate hasn't passed one in 3 years. No one would walk into a bank and ask for a loan without a plan on how they would spend that money and pay it back. So why is it okay for the Federal Government to operate that way? It's not. The latest increase to the debt ceiling limit allows President Obama to borrow an additional $1.2 trillion, which brings our national debt to $16.4 trillion, and he will likely be back at the end of the year asking for another increase. To put that into perspective, after the Revolutionary War, when we became a country in 1776, and after that, many wondered if the young democracy could withstand what many at the time considered a crushing debt. The Nation had borrowed heavily to pay for the Revolutionary War. The debt, when the war was over, was about $34 per American which, in today's inflation-adjusted dollars, would be about $653. Today's debt, by contrast, is nearly 68 times that size, or $45,000 per American. It's bad enough to borrow money like there is no tomorrow, but to do so without even a budget in place is simply wrong. Today I have introduced a bill to stop this madness. The Budget Before Borrowing Act, H.R.…”