Political Quotes

“Mr. President, I rise to speak in support of the McCain amendment, which is Jobs Through Growth Act. I do not think there is any question that the No. 1 solution to the deep financial hole in which we find ourselves in this country today is in economic growth. The fact is, we do find ourselves in a very deep financial hole. Within a day or two, or certainly within the next week, we will surpass the $15 trillion landmark in this country. That would be a problem, $15 trillion worth of debt, if our economy was $100 trillion large, but it is not. It is about $15 trillion large. So our debt-to-equity ratio has now reached 100 percent, which is a very dangerous metric. In order to understand how that affects our economy I ask people to understand or think about how their own personal economy is affected if they are in debt, too deep into personal debt. The fact is, when you are in debt over your head you simply cannot increase your consumption because any extra money you have, just beyond the basics, is spent servicing that debt. The exact same dynamic happens with our Nation. We find ourselves in way too much debt. Unfortunately, there is no end in sight. The last 3 years we added $4 trillion to our Nation's debt, and the prospect for this year is that we will add another $1 trillion. During President Obama's term we will have added $5 trillion to our Nation's debt. This scares consumers, and it scares business investors as well.…”