Political Quotes

“During the summer, Democrats and Republicans in Congress, as Americans well remember, had a big fight over trying to reduce spending as we approached the Nation's debt limit. As we know, the product of that fight was a leadership-brokered deal that promised long-term savings in discretionary spending of around $900 billion over 10 years, not just in 1 year. It also created the Supercommittee, which has been meeting in secret to find another $1.2 trillion in possible savings. We hope they do and they should, frankly, find more in savings. Whatever they come up with must be voted on in the Senate without any amendment and cannot be altered in any way. This is concerning to me. Virtually every deal we have seen this year has been filled with promises of savings, but when we analyze them, the savings are not nearly as real as promised. So we do not need another plan with tax hikes that never go away and promises of spending cuts that do not materialize or are not continued. Indeed, the debt limit deal, which produced the Budget Control Act this summer, claims to contain a spending cap, but that is not accurate. It is a phony cap. The cuts that matter most are, in many respects, those that of course take place right away. But, after all of the bickering and drama, we ended up with a deal that cut discretionary spending by only a paltry $7 billion from the fiscal year 2011 discretionary budget.…”