Political Quotes

“every summer the Congressional Budget Office produces a long-term budget outlook. This is the report they produced yesterday, which is what they do every year. It is a grim document indeed, not a document that should give us comfort but should be a call to action as to what we would need to do about the financial future of our country. It is part of their effort to produce for Congress objective, impartial analyses. We all will complain about this or that from CBO, but they are pretty objective, and they work hard to produce the kind of information we can benefit from as Americans, certainly that we in Congress need as we deal with our challenges at this period in history. They lay out, over 25 years, what we could expect to see if current policy is extended. These are some of the things they find in this report that are certainly disturbing to us. Actually, they are more than disturbing, they are unacceptable. They are absolute proof that we are on an unsustainable debt course, and that means we have to get off it or bad things will happen. The numbers I will give from this report, as Federal Reserve Chairman Mr. Bernanke indicated last year, would not happen--events wouldn't occur because we will have a crisis before that if we continue on this path. This is what they found: 25 years under the current policy, annual deficits would reach $5 trillion a year or 17 percent of GDP and would rise steadily thereafter.…”