A Quote by Ben Quayle
I think that when we look out with our underfunded liabilities and our national debt over $14 trillion, I think if we are part of that movement to get our government spending under control, I think that would be a tremendous legacy to leave.
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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.
I think the Tea Party movement is great. I think anybody who has been frustrated over the last few years with the Republicans and Democrats, when they were trying to grow government and have spending and we weren't focusing on creating jobs and get our private sector growing again, I think that's when people started to wake up.
I think America is strong enough to fix the problems, grace and honor to D.C. I think energy independence and control spending. We have to go to a balanced budget. Quite frankly, as far as our debt goes, I don't think you can tax your way out of it. I think people are taxed enough.
During the 2016 presidential campaign, candidate Donald Trump pledged to eliminate our national debt 'over a period of eight years.' Now two years into his administration, our national debt has increased, surpassing $21 trillion for the first time in American history.
And the trajectory that our debt is taking now beyond $14 trillion is going to have an impact on our currency. It goes south, and our currency's going to have an impact on our standard of living and affect every family in this country, and over time, our international competitiveness.
I think the legacy we leave is our family. I don't think it's money. I don't think it's - I'm not saying that charity isn't a great thing. I just think that it's my family. Even now I look and I think, God, I'm lucky if I lost it all.
What would you think of a person who earned $24,000 a year but spent $35,000? Suppose on top of that, he was already $170,000 in debt. You'd tell him to get his act together - stop spending so much or he'd destroy his family, impoverish his kids and wreck their future. Of course, no individual could live so irresponsibly for long. But tack on eight more zeroes to that budget and you have the checkbook for our out-of-control, big-spending federal government.
The federal government is far larger than the Founding Fathers ever intended it to be. We have racked up over $16 trillion of debt through wasteful spending, and it is time that we cut that waste and start reducing the size of our government.
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.
I've been pretty clear about saying that I think that the No. 1 threat to our national security is our debt. And we've got to get our arms around that and head it in another - head it in the right direction - that we have to pay our fair share of this.
After the $700 billion bailout, the trillion-dollar stimulus, and the massive budget bill with over 9,000 earmarks, many of you implored Washington to please stop spending money we don't have. But, instead of cutting, we saw an unprecedented explosion of government spending and debt, unlike anything we have seen in the history of our country.
I think people are confused about what the Tea Party is. I mean, they were a broad cross-section of Americans who came together concerned about our debt and our spending. And they're interested in constitutional, limited government. And so they're not one group of people. They're thousands of small groups all over the country.
When we have $20 trillion in debt, and our country's a mess, you know, it's one thing to have $20 trillion in debt and our roads are good and our bridges are good and everything's in great shape, our airports. Our airports are like from a third world country.
I'm witnessing the problems that the federal government is passing down in terms of drones, in violation of our civil liberties, spying on our citizens, death panels in the form of the government taking over the health care system and the national debt they're just saddling our grandchildren with.
I think that's one of the major overriding issues of the day, to deal with frivolous lawsuits. I think it creates a tremendous burden on our economy, a tremendous burden on health care, it creates all of this medicine, which is good medicine. It would be one of the most important things we could do. It, also would help the economy. A tremendous amount of money is taken out of our economy and a tremendous that is created by these frivolous lawsuits.
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.
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