Bob Good actually said...

"We have primary responsibility for the power of the purse, if you will and we have responsibility to protect the ability of the Federal Government to borrow when necessary and to pay our debts."

"The American people should be greatly concerned at the incompetency or perhaps the unwillingness to recognize the situation that you just described."

"A default will take place when we can no longer borrow, when we can no longer sell our debt, or when we can no longer make our payments."

"Director Young, what do you believe are the greatest threats to our country?"