Political Quotes

“Madam Chairman, I listened carefully to the gentleman from Georgia, who talks about the fiscal crisis--that this country is broke and that we have to cut spending drastically. This country is not broke. This country is the wealthiest country in the world, but we are breaking ourselves, and we are breaking ourselves by cutting too much and by following a silly economic policy. When President Obama took office, this country had a deficit in the first fiscal year of $1.6 trillion. That was the last Bush budget, because, in the first year of any President, he is living under the former budget. The budget passed just before he took office. {time} 2130 We had a $1.6 trillion budget deficit, and we were losing 800,000 jobs a month. The President and the Democratic Congress decided that to reduce the deficit and to reduce unemployment, we had to spend some money to stimulate the economy. We had to put money into infrastructure, into jobs; and we did it. Congress passed it. It didn't do enough. But the fact is, within a year, we were gaining 250,000 jobs a month instead of losing 800,000 a month. We turned the economy around by a million jobs a month, and the deficit started falling. The deficit has fallen like a rock. It's been reduced by 60 percent since the 2009 fiscal year. We've had the fastest deficit reduction in the last 3 years since the demobilization after World War II; and, frankly, it's going too fast.…”