Statements about Federal Budget
"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.
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."
The GOP budget plan "would cut nearly a million jobs."
The House budget plan proposes "the largest discretionary spending cut in history."
"Put simply, less government spending equals more private sector jobs."
The United states is "borrowing more than 40 cents of every dollar we spend."
Congressman Robert Hurt has a plan to cut education by 40 percent.
The U.S. loses more on tax breaks than it collects in personal income taxes.
George Allen voted for budgets that increased the national debt by $16,400 for every second he served in the U.S. Senate.
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.
Republicans "created a trillion dollar prescription drug entitlement program without paying for it."
$65 billion "would be added to the deficit if we keep the cuts for people on the highest incomes."
Republican plan to extend Bush tax cuts "would double deficit projections going forward for the next couple of decades."
The debt is "nearly $6 trillion more than when President Obama was sworn into office."
"The budget submitted by Obama will add more to the debt than the outstanding debt of the previous 43 presidents combined."
"If all of the [Bush-era] tax cuts expire on schedule, the budget will be close to being balanced in four years."
In the past two years, Democrats have "spent more money than this country has spent in the last 200 years combined."
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