A Quote by Ronald Reagan
We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much.
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Hold on to your wallets folks because with the passage of this trillion-dollar baby, the Democrats will be poised to spend as much as $3 trillion in your tax dollars. Taxpayers will be on the hook for spending that will stimulate the debt, stimulate the growth of government, but will do little to stimulate jobs or the economy.
When George Bush came into office, we had surpluses. And now we have half-a-trillion-dollar deficit annually. When George Bush came into office, our national debt was around $5 trillion. It's now over $10 trillion. We've almost doubled it.
When George W. Bush entered office, the national debt was $5 trillion. When he left, it was $10 trillion. I think the administration spent too much money.
I hope that the United States would cooperate with the partners to reduce its debt. The debt is a problem. The debt is with you, but unfortunately, the debt is not only with you but with us and with the rest of the world because we all, one way or another, are dependent on the dollar.
President Obama inherited a one trillion dollar deficit courtesy of George Bush and turned it into a three trillion dollar deficit courtesy of Karl Marx!
Donald Trump ran for office complaining that at $19 trillion, the US debt was completely out of control, and yet what he's planning to do is throw trillions of dollars more onto that debt. If the proposed tax plan cuts upon the wealthiest Americans is enacted, 10 years from now America's debt will be over $30 trillion. And so, he's contradicting, his own stated positions. And that's because, to Donald, none of this is about policy. It's not about sound economics. It's about greed and the glorification of the great leader.
It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve years (1980-1992) under the Republicans. Bill Clinton actually paid down the national debt. How did he do it? He raised taxes. It produced the longest sustained economic expansion in U.S. History.
The American people care about the fact that we have $17 trillion in debt and 10 percent of every tax dollar that's coming in is going to pay for past overspending.
President Obama's call for nearly a half-trillion dollars in more government stimulus when America has more than $14 trillion in debt is guided by his mistaken belief that we can spend our way to prosperity.
We may casually talk of all sorts of new programs and 'stimulus,' but the vast trillion-dollar collective national debt and rising annual deficits will insidiously hamstring almost everything we plan to do.
Back in 2008, candidate Obama called a $10 trillion national debt 'unpatriotic' - serious talk from what looked to be a serious reformer. Yet by his own decisions, President Obama has added more debt than any other president before him, and more than all the troubled governments of Europe combined. One president, one term, $5 trillion in new debt.
Mr. Obama denounced the $2.3 trillion added to the national debt on Mr. Bush's watch as 'deficits as far as the eye can see.' But Mr. Obama's budget adds $9.3 trillion to the debt over the next 10 years. What happened to Obama the deficit hawk?
The problem is that the way [President] Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents - number 43 added $4 trillion dollars by his lonesome - so that we now have over $9 trillion dollars of debt that we are going to have to pay back. [That's] $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic.
India is a 2 trillion dollar economy today. Can we not dream of an India with a 20 trillion dollar economy?
During the campaign for re-election, Barack Obama at least made vague references to a willingness to accept $3 trillion of reduced spending in exchange for a $1 trillion dollar tax increase.
I think, my generation, it's hard to have hope when you got a $700-trillion derivatives debt to pay and a bubble about to explode and $500 trillion worth of GDP.
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