Political Quotes

“2010 should be a little better year because of a weird thing. And that is the Bush cuts in capital gains expire next year. So if you have any capital gains in something, there is a huge incentive this year to sell whatever it is and get your capital gains tax paid this year at 20 percent because in 2011 it's going to jump to 35 percent. Because you know the Democrats are not going to allow that tax cut to stay. And so you are creating an artificial opportunity for 2010 to look better, when we are going to get hammered in 2011 because everybody's going to sell everything that they have capital gains on that they're going to take that tax hit on. But here is what's really going on. If you take a look, these are the receipts. This is the money coming into the Federal Government. That's this blue dot. And this pink and red dot is how much we are spending. You take a look at the size of the two, and you are going uh-oh, something's wrong here. And that's why I said that when we spend a dollar, the dollar we spend of Federal money, 41 cents is borrowed. You take a look over here at our outlays, what's going on? Social Security, Medicare, and Medicaid. Those are the three big entitlements. They are now bigger than all the rest of the spending. I am on the Armed Services Committee. Guess what I am seeing. We are gutting defense. Why? Because we don't have enough money here and we have too much over here.”