I seem to be spending an inordinate amount of time explaining to my constituents some of the false information that is getting put out there as though the deficits showed up yesterday at our doorstep unbeknownst to anyone before. Some 8 years ago we had an estimated $5.6 trillion surplus projected out over the next 10 years. As we stand here today, that surplus has turned to a deficit in excess of $10 trillion, and that is on budget. I know I don't need to explain that to you, but off budget I guess it is another several trillion dollars. Then if you go and use the accrual form of accounting, as businesses do, and people that are in the business world would understand, we are at $56 trillion and growing deficit, not talking about the number of jobs. So if we are out here in an economy, and of course a lot of what I hear from people is there is so much waste in the stimulus bill, the things that were there are a miniscule part that were made to sound like it was a whole package wrought with nothing but people's special projects.
Editor's note · Context
Discussing the national deficit and economic concerns during a floor speech.
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