Political Quotes

“Mr. Speaker, we live in the greatest and richest Nation on the face of the Earth. We have 5 percent of the world's population and control 25 percent of the world's wealth. If we are not careful and with poor fiscal management, we will shift a good portion of that wealth to other parts of the world. A couple of statistics, and I don't know what the trade deficit is today, but we are running huge trade deficits as a result of the oil prices. That trade deficit is ever increasing as a result of the increasing cost of oil because a majority of our oil, more than half of our oil comes from foreign sources. So that is a very serious problem for us. I talked earlier about the savings having been 3 percent in 1992 and we moved it to 6 percent, those are American citizens saving their bucks, saving for the future. You know, for the first time since I think maybe World War II, 2 years ago this country had a negative savings rate. That goes directly to the management of our fiscal policy and the performance of the economy. I think that it is sad that we as a nation have a negative savings rate. We need to turn that around and one of the things that we can do as a government is do our job well.”