Political Quotes

“I thank my colleague from New York, Senator Schumer, as well as Senator Mikulski from Maryland for coming to the floor this morning and speaking about the crisis we face. The debt ceiling default, which will occur in 6 days if we do not act, will have a profound, negative impact on America's standing in the world and our economy at home. It threatens to stifle job creation and to slow down the business growth we need to get out of this recession. It is the most serious impact one could imagine at a time when we are facing this kind of recession. This debt ceiling is being extended, or should be extended, under a law that was passed in 1939. We have extended the debt ceiling 89 different times: 55 times under Republican Presidents, 34 times under Democratic Presidents, and virtually every President has done it. The President who holds the record for the most debt ceiling extensions in history is Ronald Reagan. Ronald Reagan extended the debt ceiling 18 times in his 8 years, during that period of time tripling the national debt. The President who holds the record next is President George W. Bush, who doubled the national debt in his 8 years and raised the debt ceiling 9 times. This should have been done, and done routinely. Many of the Members of Congress, House and Senate, who come to the floor and say we will never vote to extend the debt ceiling are not being honest with the American people.…”