A Quote by Ed Schultz
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.
Related Quotes
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.
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.
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.
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.
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.
The point is that Hillary Clinton is running on all these ideas. She's gonna do this and she gonna do that. She's gonna fix this. She's got a massive new economic plan that's not gonna add a penny to the national debt, while Donald Trump's will add 20 trillion to the national debt. What she does, she always pivots and goes back to the Children's Defense Fund. "Well, I started working in the 1970s for women and children, Children's Defense Fund." That's magic and you're not supposed to question nothing further after that.
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.
How does one leave Social Security and Medicare untouched, grow defense by more than $50 billion, slash taxes, launch a $1 trillion infrastructure program - and not explode the deficit and national debt?
When I left Washington, we actually had a balanced budget and we paid down the most amount of the national debt in modern history and cut taxes and created jobs. And I was the chief architect of that plan in '97.
The burden of the national debt consists not in its being so many millions, or so many hundred millions, but in the quantity of taxes collected every year to pay the interest. If this quantity continue the same, the burden of the national debt is the same to all intents and purposes, be the capital more or less.
It took the first 204 years of our Nation's history to accumulate $1 trillion in debt. And now we are doing that every 2 or 3 years.
No nation ought to be without a debt. A national debt is a national bond; and when it bears no interest, is in no case a grievance.
Consider in Washington, around the country today we are talking about balanced budgets, paying down our national debt, getting the economy going, defending ourselves, activist judges. Newt Gingrich did all those things when he was speaker. We got tax relief. We got balanced budgets. We got, you know, job creation. We paid down our national debt.
There is a lot of fiscal conservatives in the United States senate that didn't vote for that because we understand that national security spending is not the reason why we have a debt. Our debt is being driven by the way Social Security, Medicare, and Medicaid and, by the way, the interest on the debt is structured in the years to come.
The [Donald] Trump plan would increase the national debt a little over a $1 trillion a year, the Trump plan would reduce taxes at all income levels with, of course, the biggest tax cuts going to the richest taxpayers as they always do.
Related Authors
Adam Carolla Quotes
American
Entertainer
Andrew Flintoff Quotes
English
Entertainer
Conan O'Brien Quotes
American
Entertainer
David Copperfield Quotes
American
Entertainer
Dick Cavett Quotes
American
Entertainer
Earl Nightingale Quotes
American
Entertainer
Jamie Hyneman Quotes
American
Entertainer
Jon Stewart Quotes
American
Entertainer
Khloe Kardashian Quotes
American
Entertainer
Marc Maron Quotes
American
Entertainer
Martha Stewart Quotes
American
Entertainer
Oprah Winfrey Quotes
American
Entertainer
Penn Jillette Quotes
American
Entertainer
RuPaul Quotes
American
Entertainer
Rush Limbaugh Quotes
American
Entertainer
Simon Cowell Quotes
British
Entertainer