Political Quotes

“I rise today to discuss several issues that I hope Congress will consider in this Congress. First, I intend to work this year to address our Nation's spending problems because I sit up nights worrying about our Nation's debt and how it will affect our children and grandchildren. As chairman of the Budget Committee, I will have a hand in handling that, so I have more responsibility. We have a spending problem in this country, and we cannot spend our way to prosperity; rather, we have to stop spending more than we take in and find a way to start paying down $18 trillion. The debt is growing. In fact, last fiscal year we spent $469 billion more than we took in. This fiscal year we are projected to spend $550 billion more than we will take in. The money on which we actually get to make decisions is about $1,000 billion. I could say $1 trillion, but $1,000 billion seems to me like a lot more. When we talk about one, we don't pay much attention, whether it is a penny or a dollar or a million or a billion or a trillion, but if we put it out in real terms, we are talking about $1,000 billion that we could actually make decisions on, and we go ahead and spend half more than that, half more than we take in. How long do you think we can do that? Well, it is affected by interest. We have to pay interest on the money we spend that is in addition to the money we take in. Right now we are able to borrow that money at only 1.9 percent. Only?…”