Political Quotes

On the recordFebruary 4, 2004
The Senator realizes that only 4 years ago we had a $236 billion surplus that we were strengthening Social Security with, paying down America's debt, and reducing the mortgage our children will have to carry. And now, if I am not mistaken, we are going to be faced with this budget which is the largest deficit in the history of the United States of America. My question to the Senator from Iowa is this: In basic terms for those following this discussion, how do we pay for the debt? I am told every minute the Bush administration spends $991,000 more than we take in in taxes. This results in a $520 billion deficit this year. I ask the Senator from Iowa, How do we balance the books? Where do we turn with a deficit like this to help balance the books?
Said by
Dick Durbin
Democratic · Illinois

Editor's note · Context

Discussing the federal budget deficit and its implications during Senate floor debate.

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