Political Quotes

“Mr. President, we are now reaching a critical hour in the Congress of the United States on the question of extending the debt limit of the Nation and of fundamentally dealing with the debt of the Nation. I don't think there is any serious person in either body who does not understand that we must deal with the debt itself as we extend the debt limit. We are borrowing 40 cents of every dollar we spend. The gross debt of the United States will reach 100 percent of our GDP by the end of this year. The best economists in the country, of whatever philosophical stripe, are telling us we are on an unsustainable course that must be changed. Mr. President, in the midst of this, we have had the House so far unable to send us a package. Now, we are told they do have the votes because they have added a balanced budget amendment to the Constitution as part of their package. The balanced budget amendment they previously proposed in the House of Representatives can never pass the Senate--at least as this body is currently constituted--and it should not pass this body. It is deeply flawed. To attach that to a measure that has to pass both Houses before Tuesday of next week, frankly, is an indication of a lack of seriousness on the part of our colleagues in the House of Representatives. Ultimately, there has to be a bipartisan agreement.…”