Political Quotes

“Mr. President, there are some in the Republican Party who will not listen to the truth no matter who speaks it. This is my opinion: If we allow this Nation for the first time in its history to default on our national obligations, it will not only be a black mark on our reputation but also a massive financial disaster that will sweep the world into global depression. But it is not my opinion alone. I have come to that belief by listening to the most respected voices in the business community. Default, they say, is a ``risk our country must not take.'' They are not the only ones who believe that is true. The most respected bankers have also said it. JPMorgan Chase CEO Jamie Dimon said default would be ``catastrophic.'' Investors have said it. Bill Gross, one of the world's largest mutual fund managers, sent us a warning yesterday. He said: There should be no question at all. The debt ceiling must be raised and not be held hostage by budget negotiations. Don't mess with the debt ceiling, Washington. That is what Bill Gross said. Economists have also said it. Ben Bernanke, appointed by President Bush as Chairman of the Federal Reserve, has said default would be a ``major crisis'' that would send ``shock waves'' through the world financial markets. Yesterday, he said failure to avert default would mean ``huge financial calamity.'' Even other Republicans have said it.…”