Political Quotes

“I went before the Committee on Rules last night and asked that rather than consider a constitutional amendment, which I do not favor normally, to restrict the raising of revenue, I thought it would be much better and more honest and forthright if we changed restricting the ability of the Congress to raise revenue to restrict it from borrowing money. We owe $6 trillion collectively, every man, woman and child in this country, and we see that today as was the case yesterday, we continue to see the amount of borrowing go up. The problem is excessive spending and unbalanced budgets because Congress in the past has not had the will to either cut services to come in line with the existing revenue or to raise revenue to pay for the services that they deem to be in the public interest at that particular time. The most insidious tax increase in the world is for us to continue to borrow money, because that requires us to pay interest. I hope every young person is listening to this, because what we are doing is saddling your generation with debt that we are unwilling to raise the money to pay for the services that we think we require today. That is what is going on. It has been going on, and this will do nothing to stop that. In fact, this will make it worse.”