Political Quotes

“Earlier this week, the President submitted a budget request to the Congress. That budget request increases spending by approximately $2.5 trillion over the next 10 years. It raises taxes by $3.4 trillion over the next 10 years. And I will say that again. It increases spending by $2.5 trillion and raises taxes by $3.4 trillion over the next 10 years. This budget, like every other budget that has been submitted by this White House, does not ever come into balance. It never comes into balance. It stays in the red. In fact, under this budget, we will see a 13 percent structural shortfall in funding. The deficit would increase this fiscal year to $616 billion. That is up from approximately $438 billion last year. Either number is unacceptable. Mr. Speaker, with the trajectory that we are on, by 2022, just the interest on the debt--let me be clear: just the interest, not the principal--is going to result in us spending more money on paying that interest payment than we will spend on all of our defense spending in a year. I will say that again. We will spend more money just paying the interest payment on the debt--not dropping the principal--than we will spend on our entire defense budget in the year by 2022, with the trajectory that we are on, increasing this Nation's debt. The debt is going to be more than double what it was at the time this President took office. It is going to more than double by the time he leaves office. It currently exceeds $18 trillion.…”