Political Quotes

“You are obviously completely right, and that is why I quoted the figures I did earlier in my remarks. Prior to 1980, roughly, we used to spend about 4, 4\1/2\ percent of GDP on infrastructure. Now, we are spending 1.7 percent of GDP on infrastructure. Of course, we are underinvesting, and our infrastructure is decaying. By infrastructure, I mean roads, highway, bridges, rail, airports, broadband--you name it. China is spending 9 percent of GDP on infrastructure. We are competing with China. We are competing with other countries. If they can move goods and people more efficiently, that means their economy is going to be more efficient; their economy is going to be more competitive; they are going to be able to sell things more cheaply, generate things more cheaply, and outsell us. We have to compete in a world economy. We can't be insulated. If we are going to compete in a world economy and have an economy that can generate the jobs, we can only compete if we have a transportation system. We also need an efficient energy system and other things, too, but an efficient transportation system. We are eating our seed corn. We benefited from prior generations' investment, and now, we are not doing that investment. I hear rhetoric on this floor all the time that we shouldn't leave a debt. We have to have a balanced budget, and we shouldn't leave a debt to our children.…”