Statements about Economy
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.
"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]."
"When I took office last year we faced historic budget deficits of $6 billion here in Virginia. And we closed those deficits by cutting spending."
Virginia was named "best managed state, best state for business and best state to raise a child" while I was governor.
Discretionary spending has "increased over 20-some percent in two years if you don’t include the stimulus. If you put in the stimulus, it’s over 80 percent."
Since Corey Stewart became chairman in November 2006, unemployment is up 150% and average home price sales are down $150,000.
The GOP budget plan "would cut nearly a million jobs."
"Put simply, less government spending equals more private sector jobs."
"We’ve now gained private sector jobs 12 months in a row."
The stimulus bill "promised to keep unemployment under 8%."
Under former President George W. Bush’s administration "while the population in that period grew by 10 percent, the number of jobs in the nation grew by 1 percent."
"Overall we currently have $981 million, almost a billion dollars in active development projects right here in the City of Richmond."
"It is estimated that every $100 million spent on construction generates 3,000 new jobs."
The national debt grew an estimated $15 billion last weekend.
Letting the Bush tax cuts expire would raise taxes on small businesses.
Since the Fed was created in 1913, "the U.S. Dollar has lost 98% of its purchasing power."
The health care reform law "reduces the deficit by nearly $1.2 trillion over the next two decades."
The dollar "has fallen over 44% since Bernanke began pumping money into the system beginning back in 2002."
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