Political Quotes

“last week the Senate passed legislation that had already been approved in the House that extended the debt ceiling until late this summer. It was the right thing to do. It was the right thing to extend the debt ceiling of our Nation because it allows us to pay the bills we have already incurred. There is not one dime of new spending that is authorized under the legislation we approved. My only regret is that we did not extend it for a longer period of time, giving greater certainty to the financial markets. If we were ever to violate the debt ceiling, the consequences would be that the taxpayers of this country would have to pay more for the obligations of our Nation in interest costs. It would permanently damage the reputation of this Nation as far as our ability to pay our bills. It would be counterproductive to everything we are trying to do to help the taxpayers of America. It was the right thing for us to do, to extend the debt ceiling, but we still have a lot more work we need to do. Our current accumulation of debt is not sustainable. We cannot continue to spend what we are spending today and collect what we are collecting today in revenue and sustain the fiscal integrity of the United States. We spend too much and we do not bring in enough revenue. That is the issue we need to address. It was not addressed in the debt ceiling. The debt ceiling should have been extended.…”