Political Quotes

“Balance those concerns against the huge, huge threat we face longterm of monetizing the debt and all of where we are headed, which is really unknown territory for us. Unfortunately, it is not unknown territory for many other nations. If we do not pass this, we are taking a gamble that we can be the first Nation in history to have that kind of debt and not monetize the debt. In terms of this whole thing just being gimmicks, I do not think my friend--and I respect him a great deal--Senator Byrd would be fighting this so hard if he felt it were just a gimmick, and I do not think others would. It has teeth and it should have teeth. In terms of the court situation and the possible court involvement, first, in general, the States restrictions have--there are loopholes out there. But the leading scholar in this field, a faculty member at the Cardozo School of Law in New York testified before us last week, and he said that despite the loopholes, there is no question that this is a restraint on State government, a restraint that we do not have in the Federal Government.”