Political Quotes

“looking forward to 2005, there are few more important issues for government than overspending and overpromising. Unless we get spending under control, government will lose the ability to do much of anything else except manage our indebtedness. Already we pay nearly $300 billion a year, approaching 12 percent of our total expenditures for interest on the debt. That is $300 billion a year on interest. And interest rates are going up, our debt is going up, and that cost is rising very rapidly. This fight will influence the kind of lives that our kids have. Why do we not pay attention to the problems of the insolvency of Social Security and Medicare? Why do we not look at the problems that this kind of overpromising and overspending are going to have on the economy of the United States? The challenge facing Congress will be to restore our reputation for fiscal restraint. The Federal Government is now running the largest budget deficit in our history, which is estimated to be $574 billion for the fiscal year that just ended September 30, and we will soon have to increase the $7.384 trillion statutory debt limit in order to accommodate this borrowing, which our children and our grandchildren are ultimately going to have to assume the responsibility for. I cannot think of harsher words than maybe unconscionable, maybe too interested in our political futures to do what is necessary to deal with these tough problems.”