Political Quotes

“Mr. President, it is often said that there are two constants in life--death and taxes--but I would like to add one more for your consideration: regulations. We often talk about the threat that America's growing debt poses to our economy and to our future, but the growth in Federal regulations also poses a serious threat to our Nation's long-term job creation and economic growth. According to the Congressional Budget Office, or CBO, the potential growth rate of our economy--or the rate of growth that is possible given the education of our workers, the quality of capital equipment, and the business formation rate--averaged 3.3 percent for the period from 1950 through 2014. However, CBO expects that annual rate to fall 2.1 percent in the period of 2015 through 2025. That is a 36-percent reduction in the potential growth rate of the economy. Why is this so critical? According to the President's own Office of Management and Budget, a 1-percent increase in the economy's growth rate will yield more than $400 billion in new revenues without raising taxes. Yes, that is according to the President's own Office of Management and Budget. A 1-percent increase in the economy's growth rate--we are talking about the private sector, not the government sector; the private sector is where the revenues come from--would yield more than $400 billion in revenues without raising taxes. We are always talking about the need for more revenues, but we are doing the opposite.…”