Political Quotes

“Lastly, Mr. Speaker, I would like to talk a little bit about the national debt and what we see going into 2018. It was reported this week that the U.S. Government is set to borrow over $1 trillion in 2018--approximately $955 billion--which is an 84 percent increase from 2017. The Congressional Budget Office reports quite clearly: Tax receipts are going to be lower because of the new tax law. This is increasing bond yields, which is directly related to the recent stockmarket decline of nearly 1,800 points that we have seen over the last 2 days of trading, because we see higher interest rates, the highest for bonds since 2014. As a result, we have been watching a precipitous decline--the largest in American history--by actual number of points. President Trump's Department of the Treasury forecasts borrowing over $1 trillion in 2019 and over $1.1 trillion in 2020. President Trump has described himself as the ``King of Debt,'' despite campaigning on reducing the national debt. What we worry about is that the tax plan will be mortgaging our future for today. And guess who pays the bill? Our children, who will have to repay a massive debt; our seniors, who could face cuts to Medicare and Social Security; and every American, due to a declining economy. We must take this seriously. And $1 trillion being doubled the year before and going over $1 trillion next year, and $1.1 trillion the following year is not sustainable for our Nation.…”