Political Quotes

“That is absolutely the fact. My colleague from Iowa is exactly correct. The bottom line is, yes. What we are talking about with the debt ceiling is debts we have already incurred. No American family has the luxury, once they sign up for a mortgage, to tell the bank: Well, I am not going to pay you unless you do A, B, and C. No American family has the luxury of telling the credit card company: Hey, unless you buy me a year's supply of groceries, I am not going to pay my credit card debt. Once you incur the debt, you have an obligation to pay. That is one of the foundations of American life. It has been that foundation since Alexander Hamilton argued with Thomas Jefferson, and it has served our country well. The awful example that it would set if America, this great land, this Federal Government said: Well, I am not going to pay the debt, I am not going to pay the debt unless A, B, C, D is done--what kind of example does that send to American families, to American young people? It is the opposite, frankly, of the conservative philosophy--part of which I agree with in this regard--that you pay your bills, that you pay your debts. If you don't, there is a consequence. So it is just amazing. This is the first time, I believe--check the history books--in American history where a large group in either House of this Congress has made it a campaign not to pay the debt unless they get their way on certain other issues, whatever they be.…”