Political Quotes

“January 1, 2000 is just over 600 days away. The century date change, or Y2K for short, is a matter of large and serious consequence. In testimony before the Senate Commerce, Committee, Federal Reserve Board Governor Edward Kelley Jr. estimated that U.S. businesses will spend at least $50 billion on Y2K conversion, with the worldwide repair cost potentially exceeding $300 billion. The century date change is also an issue of surpassing difficulty for the Internal Revenue Service. IRS Commissioner Charles Rossotti recently stated in a USA Today interview: The most compelling thing by far is fixing the computers so they don't stop working on Jan. 1, 2000. . . . If we don't fix (them), there will be 90 million people 21 months from now who won't get refunds. The whole financial system of the United States will come to a halt. It's very serious. It no only could happen, it will happen if we don't fix it right. In testimony before the Finance Committee last year, Linda Willis of the General Accounting Office suggested that ``the IRS [may be] the largest civilian year 2000 conversion, at least in the country, and possibly in the world.'' She also testified that the Y2K problem could be ``catastrophic'' if not addressed. The century date change is the highest technology priority at the IRS; more than 550 employees are at work on Y2K conversion-related activities. The IRS will spend approximately $1 billion to become Y2K compliant.…”