Political Quotes

“I rise today to address a topic that Washington has been ignoring for decades. For years, Republicans fought against wasteful spending under the Obama administration. My party argued that our debt and deficits were unsustainable, and they were leaving a burden that our children and grandchildren simply can't afford. Unfortunately, my party has shown an almost equal disregard for the dangers of a growing national debt and annual deficits, as have the Democrats. Congress spends taxpayer money with no accountability--something you would never do in business or in your personal life--and our Federal Government is borrowing an unprecedented amount of money. Congress borrows money with no plan to pay it back. Our families and our businesses cannot do that. Congress is leaving debt for the next generation. Parents and grandparents don't do that. This year, between mid-March and late June, the Treasury's total borrowing rose by about $2.9 trillion, and the Federal Reserve's holdings of U.S. Treasury debt rose by about $1.6 trillion. The Federal Reserve is creating an artificial market for treasuries to keep interest rates low. This is not sustainable and will have dire consequences. There will come a time when they can't purchase any more treasuries and rates will increase.…”