Political Quotes

“I am here to raise a budget point of order. The substitute and the underlying bill came to the floor spending money the Banking Committee did not have in its 302(a) budget allocation. It has exceeded the budget allocation. How much direct spending is in the Dodd-Lincoln substitute as amended? About $21 billion, partially offset by raising revenues resulting in an increase to the deficit by $10.6 billion over the 5-year timeframe--that is the timeframe we are using for budget enforcement--and over the 10-year period, reflected in the baseline, it would increase the deficit by $19.7 billion. So our 10-year deficit outlook--the Obama administration policies will contribute to the debt by running massive deficits for the next 10 years, averaging nearly $1 trillion a year from 2011 through 2020. The projected deficit of 8.9 percent of GDP for 2011 will come at a time when the administration is predicting a return to prerecession economic growth. The total public debt stands at over $13 trillion, with fiscal year 2009's $1.4 trillion deficit having contributed significantly to our Nation's credit card bill. With unsustainable levels like this, the Senate must knowingly, consciously, and with full awareness decide each time a bill comes to the floor to increase our debt burden further.”