Political Quotes

“Yes. Senator McCain asks we look at this chart. This again shows what would happen under the sequester. Our budget staff has worked hard to correctly do these numbers. Under the sequester, the additional $492 billion in cuts, adjusted for inflation, the defense budget over 10 years would be reduced by a real 11 percent. That is, one-sixth of the Federal Government's spending is defense. The remaining five-sixths of the Federal Government would increase 35 percent under the sequestration and current BCA policies. So again, I think that is clear proof the Defense Department is disproportionately being asked to reduce. Senator McCain suggests another chart. He likes my charts. How about the 50-year switch? It is so dramatic. And the American people have to know this. I wish it were not so. I wish I could be more optimistic about our financial future and the ease with which we can get ourselves on the right track, but it is not going to be easy, and this chart indicates that. In 1963, defense made up 48 percent of the outlays of the United States--48 percent in 1963. This was not at the height of Vietnam or the Korean war or anything. The entitlements of America amounted to 26 percent of the budget. What has happened in the past 50 years? Entitlements have now reached 60 percent of the budget and the Defense Department is 19 percent of the budget. This is a dramatic alteration of where we are. Some of this is normal and natural.…”