Political Quotes

“as chairman of the Senate Budget Committee, I want to say a few words about some of the important budgetary issues that Congress is now facing. I want to focus on the $3.5 trillion reconciliation bill, but before I do that, I want to comment on the looming debt crisis that we face. The Republican leader, Mitch McConnell, this morning once again reiterated that the Republican Party will not vote to lift the debt ceiling; and in an extraordinarily irresponsible manner, Republicans have indicated that they will not pay the debts incurred under the Trump administration. In his statement, as he has done time and time again, Senator McConnell implies that this debt ceiling has something to do with future spending. It does not. In his statement, as he has done time and time again, Senator McConnell implies that this debt ceiling has something to do with future spending. It does not. Like anyone who owns a credit card, the payments that are made are for past spending--in this case, spending incurred under the Trump administration. Let us be clear. If the United States, the largest economy in the world, defaults on its debt, it will plunge not only our country but the entire global economy into what could become a severe economic depression. That means massive unemployment, higher interest rates, severe reduction in government services, and possible cuts in such programs as Social Security and Medicare.…”