Political Quotes

“I think it is rather unusual that the gentleman from Texas (Mr. Stenholm), the gentleman from Tennessee (Mr. Tanner), and I are all up here today talking about the same issue because I really think it is time to get some real value out of the administration's color-coded warning system. It is time to declare a code red on the Nation's debt crisis. The front page story today, which has been alluded to, from USA Today analyzed the financial obligations facing Americans because of government debt. USA Today called it the hidden debt, and it totals a staggering $53 trillion. That translates into $473,456 per household. This money we need right now to meet the future obligations for programs like Medicare, Social Security, and government pensions. It grows by $1 trillion a year as long as this administration's budget binge continues. The bills come due in earnest beginning in 2008. That is not very far away. It is a blink of an eye in real terms. So far, the answer out of this administration seems to be a strategy of letting the financial crisis reach epic proportions and then renege on the promise that the country has made to the greatest generation. And that, in my view, is not right. When Americans need their government most, at retirement, the administration has not put forth a credible plan to honor our commitment to senior citizens.”