Political Quotes

“our Nation faces unprecedented fiscal and economic challenges. This situation did not happen overnight. It did not happen in 2009. It is a situation created by 8 years of mismanagement and complacency under President Bush. For a decade, the easy replaced the difficult, and instead of seizing the chance in 2001 to wipe out our national debt, President Bush and his supporters went in the opposite direction. They focused on the short term, they encouraged lax regulatory oversight, particularly of financial markets, and they adopted an economic doctrine that called for borrowing to fund virtually every major Presidential initiative--tax cuts that were skewed toward the rich, difficult and costly wars in Iraq and in Afghanistan, and a prescription drug program that failed to negotiate costs with drugmakers and still leaves many seniors without coverage. Let's be clear: When President Bush took office, he was handed a projected 10-year surplus of $5.6 trillion, which was quickly frittered away. In 8 years, the Bush administration added more debt than all the previous administrations combined, all the while middle-income households saw their earning power decline. Due to these failed and irresponsible economic and fiscal policies, the Obama administration inherited the worst recession since the 1930s and a $1.3 trillion budget deficit.”