Political Quotes

“I think the American people and Members of Congress, now that the election is over, are paying a great deal of attention to the so-called fiscal cliff and to deficit reduction in general. As we discuss deficit reduction, which is clearly a major issue for our country, it is important for us to remember how we got to where we are today. Where we are today is approximately a $1 trillion deficit and a $16 trillion national debt. I hope everyone does remember that back in January 2001, when Bill Clinton left office and George Bush assumed the Presidency, at that moment in history this country had a $236 billion surplus and economists were projecting that surplus would grow and grow in the future. The reason, to a very significant degree, that we are where we are today in terms of the deficit has everything to do with the fact that we went to war in Iraq and Afghanistan, but we did not pay for those wars--which, by the way, by the time we take care of our last veteran, will cost us more than $3 trillion. When we do not pay for expensive wars, we add to the deficit. When we give out a huge amount in tax breaks, as we did under the Bush administration, and a lot of those tax breaks went to the wealthiest people in this country--when we give tax breaks to millionaires and billionaires and we do not offset them, we also add to the deficit.…”