Political Quotes

“this is my opinion. If we allow the United States to default on its debt for the first time in our glorious history, it will be a black mark on our reputation, and that is a gross understatement. There will be a financial disaster, and it will spark a global recession. As I indicated when I began, this is my opinion, but this is not my opinion alone. If we listen to the economic leaders of this country, respected economists, bankers, and business leaders, this is what they say. For example, yesterday the chief executive officer of the American Express, whose company is valued at almost $80 billion, said this about default: What's important to understand is if the United States hits the debt ceiling and is unable to pay its debts, the consequences will be immediate and dramatic. . . . If the U.S. defaults, the [global financial] system literally unwinds. So no one misinterprets what he said, I will read it again. What's important to understand is if the United States hits the debt ceiling and is unable to pay its debts, the consequences will be immediate and dramatic. . . . If the U.S. defaults, the [global financial] system literally unwinds. His dire warning has been accepted and echoed by reasonable Members of Congress, including many Republicans. Even Speaker Boehner admitted in 2011, the last time Republicans forced this country to the brink of default, that failing to pay the bills would be catastrophic.…”