Political Quotes

“to paraphrase Ronald Reagan, ``Here we go again.'' Treasury Secretary Jack Lew has warned us that the Federal Government will bump up against the statutory debt ceiling on Tuesday, November 3. Shortly after that, on December 11, the fiscal year 2016 continuing resolution will expire, bringing the prospects of yet another government shutdown. Absent a budget deal to suspend sequestration and lift the spending caps imposed under the Budget Control Act, we face draconian spending cuts that will harm both our economic recovery and our national security. Meanwhile, authority for the Export-Import Bank has expired already, and authority to spend surface transportation funding will expire at the end of this month. This is no way to run a government. It is time to end this mindless fiscal brinkmanship and negotiate a comprehensive budget deal that resolves all of these issues. The American people demand and deserve no less. But first we must act on the debt ceiling. With respect to the debt ceiling, Treasury Secretary Lew wrote to House Speaker John Boehner on October 15 warning that extraordinary measures to forestall hitting the statutory debt ceiling will be exhausted as soon as November 3. At that point, the Federal Government will have a cash balance of about $30 billion but will be facing obligations totaling as much as $60 billion on certain days.…”