Political Quotes

“I wish to thank my colleague Senator Toomey for raising this matter and asking to recommit the legislation so the Senate committee, the appropriate committee, would produce a THUD plan for spending that complies with the Budget Control Act, which is a law of the land. Senator Toomey is one of our most knowledgeable Members on finance in the Senate. He is a member of the Budget Committee. He fully understands the significance of this matter. If this legislation passes at the level it is moving forward today, then we are eviscerating the promises we made to the American public in August of 2011. In August of 2011, everyone should remember quite well, that we said we would raise the debt ceiling by $2.1 trillion. We will reach that by the end of this year. We will have used up and borrowed another $2.1 trillion before the end of the year, but we said that we would reduce spending by $2.1 trillion over 10 years to make it easy on ourselves and to spread out the spending cuts. This was passed into law with bipartisan support and signed by President Obama. This is not some law that was made up out of thin air. It was a law that was debated and passed in both Houses of Congress. Republicans and Democrats agreed to it, and it improved our spending a little bit. We were then spending at the rate of $37 trillion over 10 years. We were projected to increase spending to $47 trillion over 10 years. This bill reduced it to $45 trillion.…”