Political Quotes

“Federal debt has increased sharply. I have this beautiful chart here starting in 1790, the first budget in our country right after the Revolutionary War, and you can see the national debt. This is done in a fair way. It is debt to the gross domestic product. So it is a percentage of the domestic product in debt. And you can see, in 1790, the mark where it was. We just finished the Civil War. So we owed some money to the soldiers. We paid that off in the next 40 years up until the Civil War. And in the Civil War there was a little bit of debt, and it goes back down again. And you can see it is kind of steadily up and down a bit. World War II, okay. World War II, again, debt-to-gross-domestic-product. We were just trying to survive there, and the debt is back down again. But when you get to where we are today, things have gone completely out of control. The Congressional Budget Office estimates an additional $104 trillion will be added by 2050. The Congressional Budget Office forecasted debt would rise 200 percent. Today, as I stand here right now, we have $27.9 trillion in national debt. $27.9 trillion, what is that to you? That is $84,000. That is actually a little more than $84,000 of debt to every American citizen right here today. Now, on this day 1 year ago, in 2020, the U.S. national debt was $23.4 trillion, that was $72,309 in debt per person. We have actually borrowed $10,000 per person in 1 year. I mean, that is out of control.…”