Political Quotes

“I promised the gentleman that we did have a chart that was taking a look at these foreign countries. We've taken a look at Greece, and Greece has been in the news because it has just created shock waves in Europe as to how it has been affecting their economic system. This is the deficit as a percent of GDP. I mentioned that, as to where we are in the United States, which is at that $1.4 trillion level that we just saw last year and at another even higher year this year, we are at about a 10.3 deficit as a percent of GDP. Greece is at 9.4. So our deficit, as a percent of GDP, is worse than that of Greece. Spain and the United Kingdom seem to be worse off than we are, but we are the next worse on this chart with regard to the deficit. If you go to debt as a percent of GDP, you've got the United States here. Greece is ahead of us there, and Italy is ahead of us, but we're ahead of the other European countries as well. So this isn't exactly a cheery picture of the job we should be doing in terms of management. The solution is quite simply that you've got to cut spending and that you've got to cut taxes.”