Political Quotes

“Mr. Speaker, many concerned Americans are fed up with a Washington system that doesn't solve the underlying problems facing the nation, including the ongoing debt crisis. This ongoing debt debate represents not just a crisis, but a crossroads. In the past few decades, Congress raised the national debt limit more than 70 times, usually with little or no debate. Each time very few people batted an eye and this history has been used by liberal extremists as a reason to continue with the status quo, Now things have changed. Over the last five years our national debt has increased by more than 50 percent. In just the past three years the debt increased by more than $4 trillion dollars. Even worse, the debt has increased by $9.2 trillion since a Balanced Budget Amendment failed by one vote in the Senate 15 years ago. As a result, the total national debt is now nearly equal to our entire economic output. The independent Congressional Budget Office warns that the federal government's current path of borrowing is unsustainable and could lead to slower economic growth as debt payments consume more and more of our economic output. Add to this that the private-sector agencies like S&P that grade government debt have stated that if Congress doesn't do something to halt the rapid growth of debt they will downgrade the U.S.…”