Statements about Federal Budget
"Revenues are 15 percent of GDP — it’s still in the range of the lowest it’s ever been."
Says "you cannot implement Paul Ryan’s plan without allowing for any increases in revenue."
"The Republican from Georgia [U.S. Rep. Jack Kingston], he hasn’t even been to a NASCAR race."
"The federal government owns tens of thousands of properties that are vacant or underused."
The "Democrat majority in the Senate has failed to submit [a] budget in the past 1,000 days."
"[A]t his current rate, President Obama will have added more debt to the United State of America by the end of his first term than each of the previous 43 presidents -- combined!"
"No other public or private business in America" except for the U.S. Postal Service must fund 100 percent of employee retirement and retirement health costs in advance.
"Two days of interest we pay to China is enough to buy one joint strike fighter [jet]."
"We spend less on defense today as % of GDP than at any time since Pearl Harbor."
Tax increases could "come into play" as a result of the debt ceiling deal.
The deal to raise the federal debt limit created the "largest debt ceiling increase in America’s history."
U.S. Reps. John Barrow and Sanford Bishop and their fellow Democrats "went on a spending spree and now their credit card is maxed out."
Every 10th dollar spent by the Social Security Administration on its program for the poor is "waste, or fraud, they can’t validate that the people should have gotten it," totaling about $8 billion a year.
If today's economy was rebounding at the rate of the "Reagan recovery," it would have created the equivalent of 25 million new jobs and raised federal revenue by $800 billion a year.
"When we lower tax rates, we generate more in revenues. That happened in '86 with the Reagan plan, happened in 2001, following the Bush plan."
Says the federal government borrows "almost $60 billion per week."
"There used to be 16 workers for every one person on Social Security. ... Now it’s three."
Says "an average of $4 billion is added to the national debt" every day.
"Every taxpayer owes about $130,000 to pay off the national debt."
One half of federal spending goes to Social Security, Medicare and Medicaid while the other half goes to other programs funded with money "borrowed from a foreign land."
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