Political Quotes

“the Blue Dog budget is based on a very simple premise that basically says that our generation needs to be willing to have the courage to pay the bills that we are incurring and not pass this staggering debt on to our children. As hard as this may be to imagine, we the people of the United States of America owe $6.4 trillion. If we follow the budget plan that the majority has put forward, that number will balloon to $10 trillion, and our country will be unable to meet its obligations. Can you imagine the richest country on Earth dead broke? Eight months ago Congress increased the debt ceiling by $450 billion to pay for additional spending and tax cuts. Now the Treasury Department has notified us that we have reached this new debt limit, and it will have to be increased in the coming weeks. It gets even worse. The Congressional Budget Office recently reported that the deficit for this year will be $287 billion, and that is without paying any cost of the war that has begun in Iraq. They also predicted over the next 10 years another $2 trillion of debt will be piled onto what we have already incurred. Last year taxpayers in this country paid an accrued $332 billion in interest on revenues of $1.8 trillion. That amounts to a Federal debt tax on American families of 18 cents on every dollar. Said another way, we have an 18 percent mortgage on this country, and it is growing.”