Statements about Deficit

"China owns more of our bonds than do Americans."

"If you look at our tax mix, the share of corporate revenues as a percentage of our overall revenue mix has declined by about half over the last 30 years."

"President Obama and liberal former DNC Chairman Tim Kaine’s $787 billion stimulus failed to create jobs."

Non-defense discretionary spending has increased "by over 80 percent in the last two years."

"The (national) debt really added up $75 trillion in 2010 and is on track to hit $99 trillion this year."

"Gerry Connolly and his fellow Democrats went on a spending spree and now their credit card is maxed out."

For more than 30 years after World War II, there was a steady reduction in U.S. debt as a percentage of gross domestic product.

The U.S. has "over $62 trillion in unfunded liabilities."

Failure to raise the debt limit does not force a U.S. default on debt payments.

"China now owns $1.1 trillion of our debt, our trade deficit last year with them was a quarter of a trillion dollars."

Rep. Paul Ryan’s Medicare plan "lines the pockets of the private insurance companies," increases costs for seniors and does not reduce the deficit.

"Each day our nation pays communist China $73.9 million in interest on our debt."

"Right now we are spending at an all-time high, close to 25 percent of our GDP [is] being spent on the federal government. But our revenues are at an almost all-time low of about 15 percent [of GDP]."

George Allen voted to add $3 trillion to the federal debt, voted to raise the debt ceiling four times and voted for the No Child Left Behind Act while he was a senator.

The United states is "borrowing more than 40 cents of every dollar we spend."

The U.S. loses more on tax breaks than it collects in personal income taxes. 

The tax-cut deal "adds more than $800 billion to the deficit over two years -- more than the cost of TARP and more than the cost of the Recovery Act" and about the same as health care reform.

The national debt grew an estimated $15 billion last weekend.

Republicans "created a trillion dollar prescription drug entitlement program without paying for it." 

The health care reform law "reduces the deficit by nearly $1.2 trillion over the next two decades." 

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