Political Quotes

“interest rates will rise. Prices of U.S. Government obligations will fall. Interest rates will rise on municipal bonds, State securities, and private debt, corporate and individual. Prices of bonds will drop. The securities markets, both stocks and bonds, will fall. The credit rating of the United States will be impaired. Employment will rise. Home mortgages will be thrown into disarray. Homeowners will find the value of their real estate declining. Pension funds will be impaired by reason of the loss of the value of their equity and the loss of earnings. Perhaps high unemployment in this country and around the world will occur because of a significant breakdown in the world money markets and the world currency markets. Mr. Speaker, I urge my colleagues on the Republican side, if they are going to play with fire, to burn only themselves, but be careful of what they do.”