Political Quotes

“Mr. President, I would just say the answer doesn't deal with deficit reduction. If you care about deficit reduction, the two should be treated equally. Mr. President, $1 of tax break per millionaire and $1 of increased unemployment benefits increases the deficit the same amount. However, every economist--I saw we had a chart up about economists before--will tell us $1 into unemployment benefits stimulates the economy about four times as much as $1 into tax decreases for millionaires. That is pretty universal. Mark Zandi, John McCain's economic adviser during his campaign, said $1 of tax breaks for millionaires stimulates the economy about 30 cents' worth. So $1 of unemployment benefits increases the economy by about $1.62. I know we have a few of my colleagues coming. Does my colleague have anyone else here he wishes to have speak right now?”