Political Quotes

“tonight I am going to talk about two very serious issues for this Congress, for this President, certainly its effect on future generations and current and future retirees. First, I am going to talk about defense spending, the overzealousness of Washington to continue to increase spending two, three and four times the rate of inflation, and what that means is increasing debt that we are going to leave to our children. So what I have titled the first part is ``The Forgotten Deficit,'' and though, right now overshadowed maybe by national security and the conflict in Iraq, this year's budget is very important. We must reverse the rapid descent into deficit spending that we have seen in the recent years. Let me give my colleagues an example. From the $236 billion surplus that we had in the year 2000, the budget situation has deteriorated to a projected $436 billion deficit. From a $236 billion surplus 3 years ago now we are looking at $436 billion Federal funds deficit for this fiscal year and the same for next year. This is a swing of more than $600 billion in a $2.1 trillion budget, and this deficit is going to be much larger because this deficit from CBO does not include any money for the defense supplemental that is coming. It does not include any money for the extra cost of whatever we might do in Iraq, and it certainly does not include the effects of any tax cuts.”