"I see no need for Federal intervention in these areas."
"In the end, people will recognize that their government has failed them."
"There will be severe consequences for not changing course."
"The beauty of federalism lies in the fact that the National Government does not tell the States how to manage their own affairs, at least ideally."
"The perfect storm is brewing. Already State and municipal governments are coming to Washington hat in hand expecting a Federal bailout like so many others. But the era of the bailout is over."
"What I believe I saw and I believe a lot of folks saw was that the day is coming, the day of reckoning is coming when those stimulus funds run out."
"Our budget deficit has reached an all-time high and the national debt is crippling our economy."
"But reckless spending fueled by bottomless borrowing and guaranteed by endless bailouts is an unsustainable course."
"States now say that more money would help them through their current rough patch. The reality, however, is that the money States receive from the stimulus has, in many ways, made them worse off."
"States do not want or need the power to declare bankruptcy."
"I certainly appreciate that."