Political Quotes

“Mr. President, I rise today to offer first a commonsense amendment to begin to address our Nation's unprecedented national debt. It is hurting jobs in our economy today and is placing an immoral burden on our kids and our grandkids. This is called the Dollar For Dollar Deficit Reduction Act. It ensures every time we raise the debt limit we cut spending by the same amount over a 10-year period. We all know the growth of the national debt is not sustainable. In the past 4 years our national debt has risen by $6 trillion and is projected to add another $9 trillion over the next decade. These numbers are huge, too big to comprehend. So let's put it this way: If we don't do something, we are really in trouble. Between the end of 2008 and 2022--so 9 years from now--the average household share of the national debt will have risen from $90,000 a household to $160,000 a household. That is how big the debt will get. Today, it is about $130,000 per household. We know we need to do something. Democrats and Republicans alike talk about it a lot. The debt limit is an opportunity to have this debate. Future decades will bring even more debt, with the Congressional Budget Office--a nonpartisan group here in Congress--now projecting the debt will top 200 percent of our economy in 25 years. Again, this is unprecedented. It is about 100 percent of our economy right now.…”