the notion that we are going to go from 16 percent of GDP to 18 to 20 percent of GDP, we are on a track now by 2015 we are going to be at 20 percent of GDP

If you are at 23 percent of GDP for spending, and you only get your revenues up to 18.2 percent of GDP, you have got a structural deficit of 5 percent of GDP.

We need to help our colleagues understand what the risk is of a failure to address our long-term imbalances.

I must say I was directly involved in the farm credit crisis, and one thing I would like is to have you go back and have your people take a look at that, because it worked and it did not cost taxpayers money.

we have got to be able to do better than this and we very much need your help and the help of your associates to point the way

If the first $350 billion had not gone out, I believe the financial system would be in collapse today.

The debt of the United States doubled over the last 8 years. It is set to, I believe, double again in the next 8 unless we change our long-term policy.

This budget extends the 2001 and 2003 tax cuts for everybody earning below $250,000 a year.

I have had some of the most prominent economists. We have had them testify here. We had Allen Sinai sit at that desk and tell us we are headed for a country that will look like a Banana Republic if we do not deal with this long-term…

I just spent the last year and a half getting a farm bill passed, and we paid for the farm bill.

All politics is local.

you are creating a situation which is probably untenable for our children because of the size of that debt