Political Quotes

“Madam President, for far too long, the Federal Government has simply been spending and borrowing far more money than it should. It has been borrowing and spending money that it doesn't have. Now, for individuals, for businesses, even for States and local governments, this kind of conduct is not just inadvisable, which it clearly is, but it is also impossible. I mean, sure, people can get away with it for a short period of time, but the laws of mathematics are very quickly able to catch up with them so that they can't do it. The Federal Government is unique in this regard. There is something about the size of the U.S. economy, coupled with the status of the U.S. dollar as the world's reserve currency--a combination of factors--that has given the Federal Government this ability that is somewhat unique, you see, because it has access to essentially what amounts to a printing press in Washington, DC, that prints out more and more money with reckless abandon, more and more money in a way that would be impossible not just for any individual, any family, any business, or any nonprofit but also that most governments in the United States and the world could never dream of. Yet this government has been able to get away with it because of these unique factors and unique features that exist here. So the Federal Government just spends more money as if the laws of mathematics did not apply.…”