Political Quotes

“I am proud to stand with him today to add my voice to those who are extremely alarmed by the budget problem, the budget crisis that we find ourselves in. The charts that the gentleman has been describing, the points that he has made in his presentation, point out in crystal clear fashion the huge budget problem we are now faced with. We have burned through $4 trillion of an estimated surplus that was projected a year ago at a total of $5.7 trillion. Now the Congressional Budget Office says the surplus for the next 10 years is just $1.7 trillion; $4 trillion is gone from the projections due to war, due to recession, and due to tax cuts, those three reasons. The President, the White House and the Congressional Members of the Republican Party are very sensitive to the notion that the tax cut may be responsible for this loss of surplus and the return of budgetary deficits. They are correct that it is not the only reason, and it is wrong for anybody to suggest that the big tax cut of last summer that will cost $1.7 trillion over 10 years, that is not the reason that deficits have returned. But we cut it too close to the bone. We did not allow for the unforeseen.”