Political Quotes

“That letter documents CBO's projections that health reform will result in at least $115 billion in additional spending beyond what was previously included in the total of last March. In addition, Douglas Elmendorf, Director of the Congressional Budget Office, recently indicated that the landmark health care reform bill would not accomplish its primary fiscal objective of reducing Federal health expenditures. Dr. Elmendorf made this point in a presentation to the Institute of Medicine on May 26, of this year. The presentation is titled ``Health Costs and the Federal Budget'' and is available on the CBO website as well. The second event is the record buildup of public debt. Last week, the Federal public debt passed $13 trillion. On that monstrous number, $1 trillion was added in the last year all by itself. The third event is the continuous mounting of the cost of the stimulus bill. Recent Congressional Budget Office scoring shows that policy, instead of being roughly $800 billion, is now exceeding $1 trillion. The fourth event is the fiscal troubles in the country of Greece. Too much spending and public debt has put Greek public finance in a state of distress. The fifth event is the troubling developments in States with large open-ended social spending programs and already very high income taxes. The people who send us here are also reading these reports and they are rightfully worried about these fiscal troubles.”