Political Quotes

“Today's volatility in the stock market teaches us two lessons: first, the United States, our Treasury Secretary, and our President must advance a new International Economic Stabilization plan based on tremendous cuts in European government spending. Over 60 percent of Greece's GDP is in the public sector. With debts rising to 100 percent of national income, their ability to repay their debts was inevitably going to collapse. Spain, Portugal, and Italy may be next. Their debts total trillions, not hundreds of millions. Our U.S. financial system and our stock market depends on what I would call a new international fiscal conservatism that cuts government spending and deficit financing. Today also teaches us another lesson. The very debts that crippled Europe and shook our stock market are coming to America, fueled by the irresponsible spending of this Congress. We need to cut Federal spending now to reassure markets and assure that America's children will never have to ask this question: 'Who will bail out America?'”