Political Quotes

“The United States stands at a crossroads. Responsible leaders recognize that a bipartisan fiscal strategy must be crafted to reduce deficits. A deal will require courage on the part of its proponents, because each revenue raiser and spending cut is bound to trigger opposition. Unless officials can persuade voters that sacrifice and self- restraint now are essential for stability and strength later, a deal will not happen. Even with public buy-in, leaders must be ready to take action, despite the political perils, and be prepared to raise the national interest above their personal interests and reelection. It will not be easy, but it must be done. For officials in Washington who are in search of a comeback story, I suggest the case of Puerto Rico. In January 2009, the U.S. territory stood on the brink of disaster. The new government had inherited a deficit of $3.3 billion. As a percentage of revenue, this was the largest deficit of any U.S. administration. The new administration was even forced to take a loan to meet its first payroll. Major rating agencies had downgraded Puerto Rico's credit to near junk status. Simply put, the island's economy was about to implode. Leaders in San Juan faced a stark choice.…”