Political Quotes

“Mr. President, I would like in this context to focus on the economic policy, to look at where we are right now, the state of the economic union and the State of Illinois. If we look at basic numbers we see we will take in about $2.1 trillion in tax revenue, but our government is currently projected to spend $3.4 trillion in tax revenue, yielding a deficit of approximately $1.3 trillion. We will have to borrow from the American people, from China, and other foreign powers. Total unfunded liabilities of the Federal Government are $61 trillion, yielding a debt of $196,000 per American, currently. When we look at economic growth and the way to expand the available pie for the United States, our economy last year grew at a 2.8-percent rate. China, on the other hand, grew at 10.3 percent, and Libya--currently under attack by NATO--grew at 4.2 percent. In fact, quiz question: Which economy grew more last year, the United States or Iran? The answer: The Iranian economy grew at a faster rate than the United States. The situation probably is even more bleak in the State of Illinois. For the State of Illinois, we are going to take in about $27 billion in revenue, spending $33 billion, for a $5.8 billion gap. This is for a State whose credit rating is deteriorating quite rapidly, having not funded its pensions to a greater degree than almost any other State, the unfunded liability of the State of Illinois of $62 billion for a per-citizen debt on top of the Federal debt of $4,800.…”