Political Quotes

“I thank the Chair. Again to say, a default by the Treasury would have disastrous consequences for the domestic economy of the United States and for global financial markets. I make the point that during the 1980's, we became a debtor nation, the world's largest debtor nation. To jeopardize the full faith and credit of that debt is to jeopardize the well-being of the Nation. I have, Mr. President, one last thing to say, a point to make, a positive point. I know that there are many persons who legitimately feel that in extending the debt ceiling we are only somehow extending the tendency to spend more than we have in the way of income, to be excessive and improvident and, in consequence, debt ridden. Mr. President, this is not the case. Owing in large measure--or so I choose to believe--to the budget measures, tax and spending measures we took in 1993, we are now in a very solid cash-flow situation for the first time since the late 1960's.”