Political Quotes

“Madam Speaker, I yield myself the balance of my time to close. We keep talking about the economic situation in this country because it is extraordinarily important to all of us, and all of these bills that are being passed are exacerbating the problem. As my colleague from Arizona said and we have said over and over, you cannot repeal the laws of economics. Our colleagues across the aisle think they can. Right now, just the interest on U.S. debt in FY 2010 is going to be $425 billion. That's like paying interest on a credit card and never ever paying off the principal. The enormous burden of the interest cost on our debt takes money out of the economy for future generations and diverts funds from being used for other more pressing priorities. In addition, the U.S. dependence on borrowing money to fund our budget deficit places our Nation in the precarious situation of being beholden to foreign nations like China to finance our Federal spending. High national debt also diminishes confidence in an economy. As even President Obama said in November 2009: I think it is important to recognize if we keep on adding to the debt, even in the midst of this recovery, that some people can lose confidence in the U.S. economy in a way that can actually lead to a double-dip recession. The President and our colleagues on the other side of the aisle talk a good game, and then they do the opposite.…”