Political Quotes

“Let's review. We have $16 trillion in debt, and it's climbing every single day. We have no budget from the Senate for the last 3 years. The President's budget got exactly zero votes in the House and in the Senate. And the Federal Government has dramatically increased spending, which has led to this spending-driven crisis. Let me show you what I mean by that. Five years ago, in 2007, the Federal Treasury received in $2.5 trillion in revenue, the same amount that's estimated to come in this year in revenue, $2.5 trillion 5 years ago, $2.5 trillion now. Five years ago, total spent by the Federal Government, $2.7 trillion, now $3.7 trillion. That almost looks like a $1 trillion difference in spending, which equals the same amount as our deficit. It's amazing to me. When we process through this, the problem is crystal clear. It's just the solution that seems to evade us in this process. Now, some would say, tell you what we need to do. We've increased spending $1 trillion, let's just increase taxes as well and that will solve the issue. I would say, why are we spending money we don't have? Last summer, we agreed that we would cut some spending and put a group of people together in a room and let them work out a plan to find $1 trillion in cuts. The back-up, the emergency back-up plan was that we would cut across the board if a solution wasn't found, 10 percent for security, 8 percent for everything else. Now, no one wants across-the-board cuts that are that huge.…”