Political Quotes

“By the clock on the wall, it is 20 minutes after 12. By 30 minutes after 12 this Nation will have spent another $5 million on interest on the national debt. Because of the national debt, we are spending $1 million every 2 minutes just to pay the interest. That is not the principal; that is just the interest. That is why I want to compliment my Republican colleagues on passing some much-needed cuts. They were not the cuts I would have made, but they were necessary because we have to reduce spending. Let me criticize them for not taking those savings and applying it toward our annual operating deficits but instead to give a tax break to millionaires. This Nation will still spend about $200 billion more than it collects in taxes this year. That means the debt goes up and that means the interest on that, for those of you who are wondering where your tax money goes, the biggest portion of the money that you pay in taxes goes to pay interest on the national debt, does not pave an inch of highway, does not buy one round for one M-16, does not educate a child. It goes to some rich lending institution and the chances are one out of three that that money goes to a German or a Japanese lending institution because they are the ones who control our debt.”