Statements about Deficit
Says budget savings by reducing pay and benefits for federal employees total $103 billion over 10 years -- more than $50,000 per worker.
"Tim Kaine doubled down in his support of devastating defense cuts, saying the ‘the deal was the right thing to do.’"
"When I left the Senate, we were on a trajectory towards a balanced budget."
Ronald Reagan "raised taxes in 1982, 1984, 1985, 1986 and 1987."
George Allen and his colleagues in the Senate "turned the biggest surplus in the history of the United States into the biggest deficit in the history of the United States."
If Congress froze the current spending level and then cut it by 2 percent annually, "we could balance the budget in five years."
Says the Congressional Budget Office has estimated "every penny of the federal budget will go to interest on the debt and entitlement spending by 2025."
President Obama's "budget would call for about $25 trillion in debt by the end of his term, if he was re-elected."
"The national debt is equal to $48,700 for every American or $128,300 for every U.S. household. It is now equivalent to the size of our entire economy."
The national debt increased $16,000 every second George Allen served in the U.S. Senate.
The U.S. would gain revenue by cutting personal income tax rates in half and ending tax breaks.
"Ronald Reagan raised the national debt 18 times."
"1.53 million jobs are at risk (from potential defense cuts)."
Thomas Jefferson expressed "strong support" for a balanced budget amendment in 1798.
"The estimated savings of this (debt ceiling) deal only pay for half of the cost of extending all of the Bush-era tax cuts for another decade."
"As a percentage of our gross domestic product, the defense budget remains just 3.6 percent. This figure is low by all historical standards."
(Rep. Bob Goodlatte's) balanced budget amendment does not require a balanced budget.
"Harry Reid’s plan is basically giving the president a blank check."
"China owns more of our bonds than do Americans."
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