Political Quotes

“There is a word for what we are witnessing today, and that word is ``chutzpah.'' The majority is proposing a balanced budget amendment to the Constitution of the United States just months after passing the Trump tax scheme, which the Congressional Budget Office warned would increase the deficit by $1.6 trillion over 10 years. So having broken the bank and spent their way into default, they now want a balanced budget amendment to protect all the rest of us. {time} 1400 Like I said, chutzpah. One would think such devoted Reaganites might have learned the lesson already. The majority has once again asked the American people to stomach a massive deficit increase on the hope and the prayer that tax decreases will pay for themselves. That is the same trickle-down narrative we heard in the Reagan years and the Bush years, and it didn't work then, and it is not going to work now. The 1981 tax cuts were so disastrous, for example, for Federal deficits, that Presidents Regan and Bush, Sr., had to enact legislation to raise taxes to make up for the shortfall in 1982, 1983, 1984, 1987, and 1990. Other than that, yeah, tax cuts pay for themselves. When President Obama took office, he inherited a deficit of more than $1.5 trillion in the depths of the Great Recession that President Bush gave him. That deficit was cut by more than two-thirds in President Obama's tenure in office.…”