Political Quotes

“I thank the gentleman. And the gentleman raised a very interesting point about how we grow this economy and what this does to it, because he correctly points out that we are going to grow this economy in the private sector, people who will go out and take the risk of creating a new business or expanding the business they have and creating new jobs as a result of that by offering a product or a service that people want and are willing to pay for and can afford to pay for it. But if the government is out there borrowing $1.3 trillion, $1.5 trillion, $900 billion, and then $800 billion-plus every year thereafter as far as the eye can see, what is that going to do to the amount of capital that is available in the private sector? Especially if interest rates go up, and the government is absorbing so much of the credit that may be available around the country and other countries, and their growing economies are also competing for those same limited resources, we are going to find it very, very hard for free enterprise to survive if our government keeps spending more than it takes in and keeps growing in the enormous size. It is projected that if you continue this rate of spending, we are going to have government spending 28 percent of our gross domestic product. The Federal Government, not even counting State and local governments, historically, it has ranged between 18 and 20, 21 percent, which is pretty high, in my mind, and many others as well.…”