Political Quotes

“Mr. President, a number of us, myself included, have been arguing since January--ever since we arrived here and were sworn in this very room--that the national debt is a permanent problem. The almost $15 trillion that we now owe as a nation is permanent. It is going to take a long time to pay off. There are people who are not yet old enough to vote. There are people who will be born in a few years who are not even here who will one day have to assist in paying off that debt. The fact that this is a long-term problem means it requires a long- term solution. That is why we have been saying all along that we ought not raise the debt limit yet again--extending our national debt by another $2.5 trillion, more or less, without a permanent solution in place. Herein lies the problem. It is difficult or impossible for one Congress to come up with a set of budget numbers that would necessarily bind future Congresses. We can come up with a plan to cut $2 trillion or $3 trillion over a 10-year or 15-year period, but if future Congresses don't want to go along with that, they can find their way out of it. This has happened again and again as we have seen with Gramm-Rudman-Hollings, as we have seen with the pay-go rules. Congress becomes a walking, breathing waiver unto itself. We need a permanent solution. This is why we have settled on the need for a balanced budget amendment.…”