Political Quotes

“last Friday the Congressional Budget Office came out with their new economic outlook, and I am somewhat ashamed as a Republican that it does not look very good in terms of what Republicans and Democrats have done in the last several years. They are estimating for this year, 2003, we are going to run a deficit of $562 billion. That includes the $162 billion we are borrowing from Social Security, but it also considers what we are borrowing from all of the other trust funds. They estimate the deficit for 2004, next year, is going to be $644 billion. Mr. Speaker, when you realize that it took the first 200 years of this country, the first 200 years, to accumulate a debt of $500 billion and now we are exceeding that every year, we should be ashamed. I am ashamed. The gentlewoman from North Carolina (Mrs. Myrick) and the Republican Study Committee just issued a report that said if Republicans and Democrats and the President had stuck to the commitment that we made in 1966, we would have a balanced budget today, even with the tax cuts.”