Political Quotes

“First of all, I wish to thank the chairman of the Budget Committee for bringing a budget to the floor. It is great that we have done it. We know the outcome of this budget vote already. The final budget vote will not come until sometime in the middle of the night. But in that budget we are going to spend $47 trillion. There is a dispute between how we look at it and how our colleagues on the other side look at it, but there is at least $1 trillion in tax increases. The new debt over the next 10 years is $7.3 trillion despite $1 trillion in tax hikes. The debt that has been added since the last budget passed this Senate is $5.5 trillion. The spending increase above the projected growth over 10 years is $645 billion. The spending increase in this budget next year above today's budget level is $162 billion. The deficit increase next year relative to the fiscal year 2014 projection by CBO is a $95 billion increase in our debt--we are not going the other way. The growth rate in the Federal budget over 10 years is going to be 60 percent, and in the mandatory programs it is going to be 80 percent, so we are going to have the government growing at least 7 percent a year, continuing to grow at a rate faster than our economy, at a rate faster than personal income. The net deficit reduction over that 10 years over what was projected may be $270 billion. The deficit reduction achieved through spending cuts will be zero in this budget--zero through spending cuts.…”