Political Quotes

“I thank the Senator from Wisconsin. There is no issue that is more important or more pressing for the American people than this one right now, where we have reached a point where our debt-to-GDP ratio is about 95 percent. Our economy can't long endure that kind of borrowing. It has an effect that will result in an estimated loss of about 1 million jobs a year for each year we remain above the 90-percent, debt-to-GDP ratio. We simply can't endure that, and the American people can't endure that. We need to increase revenues. The only way to increase revenues is to allow the economy to recover. That won't happen as long as we keep borrowing more and more money while doing nothing to control the underlying problem--the systemic problem that requires a structural reform. The American people understandably, justifiably, and very correctly are demanding that before we raise the Nation's debt limit yet again, before we extend yet another credit card for the United States of America, we commit to some kinds of cuts. Future borrowing requires us to make future cuts. The problem with that is the moment that debt is actually used up, the moment it is incurred, the American people are under an obligation. But if we make a promise today that we are going to cut, let's say, $2 trillion or $3 trillion or $4 trillion over the next 10 or 12 or 14 or 15 years, that is a promise we can't make.…”