Political Quotes

“as I explained the unfunded liabilities of the Affordable Care Act, I now want to make something clear. It is a lot more than that. It is unlike Social Security and Medicare, where there is a dedicated tax that supports those programs that are on our payroll withholding every week, that FICA withholding, dedicated to Social Security and Medicare. There is no dedicated tax support for ObamaCare. If you assume all the new taxes they raise are actually used to fund ObamaCare, then there would be a $6.2 trillion shortfall, a liability. But if you do it like it should be accounted and assume that none of this money raised in taxes is actually dedicated to the Affordable Care Act, then it runs about $17 trillion according to estimates by my Budget Committee staff. Congress is well-known for this. Unless your tax money is absolutely legally dedicated to something, it gets spent on other things. So we have no confidence we will come in with just $6.2 trillion. It is likely to be far higher than that, the way we know this body operates. I yield the floor. The ACTING PRESIDENT pro tempore. The Senator from Oklahoma.”