Political Quotes

“Mr. President, I rise to discuss the ongoing negotiations on the Federal budget and our rapidly approaching debt ceiling. I think we all agree the situation we face is increasingly grave. I believe every responsible person agrees that a failure to act on the debt limit would have awful repercussions and set back our fragile and tentative economic recovery. Surpassing the debt limit could inflict a triple economic harm on our struggling economy: the economic harm of all at once pulling 40 cents of every Federal dollar out of the economy, the economic harm of shutting down every work project that depends on Federal permits, contracts or regulatory approvals, and the economic harm of driving up interest rates for our constituents and for our country. We must, therefore, act and act quickly to ensure that we avoid that outcome. I also believe the debt limit presents an opportunity to make some tough decisions on our unsustainable deficits. The longer we wait to make these choices, the harder they will be. It is my strong belief that any agreement we reach to reduce the deficits must be based on real savings and must not be made at the expense of our most vulnerable citizens. That is why I am so concerned about reports that Social Security and Medicare benefits have been raised as possible sources of deficit reduction. Cuts to Social Security and to Medicare benefits are unnecessary, are wrong, and should not be on the table.…”