| Congressman Trent Franks (R-AZ) on the House floor addressing 'Cut, Cap, and Balance' 07/18/11:
1:35 - From the day Barack Obama walked into the White House, he has, with breathtaking arrogance, ignored economic and financial reality. It took America the first 216 years of its existence to accumulate the debt that Barack Obama has accumulated in the short 2.5 year span of his Presidency. ... He has increased our federal debt by nearly $4 trillion. Just to put that nearly $4 trillion in new debt in perspective, let me put it this way: if, all of a sudden, a wave of responsibility swept through this chamber, and we stopped all deficit spending, and began to pay installments of $1 million every day to pay down the $4 trillion... it would take us more than 10,000 years to pay it off. And that's if we didn't have to pay one dime in interest, Madame Speaker. But, you see, we are not paying down Mr. Obama's debt at $1 million per day. We are going deeper into debt ... every day, under Mr. Obama's own submitted budget and deficit projections... almost $4 billion per day. 3:30 - And then, when speaking of the effort to reduce the effort, the President has the hubris to tell conservative Republicans to take a balanced approach and 'eat our peas.' Madame Speaker, if there is anything more catastrophically out-of-balance than our federal budget, it is the arrogance-to-competency ratio of this White House. We have already tried Mr. Obama's way. We have, for far too long, been testing Democrat Economics 101, the theory that, as Vice President Biden put it, 'we have to spend money to keep from going bankrupt.' |
