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It is day after day in this institution, borrow money, run up the debt, run up the deficits and then with a straight face say, we are going to repeal a tax that affects 1 percent of the American people, just 1 percent of the American people.
Richard Neal
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Mr. Obama plans to boost federal spending 25 percent while nearly tripling the national debt over 10 years. Americans know that this kind of spending will have economic consequences, including new taxes being imposed by the new progressives.
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Raising the debt ceiling is not additional spending. It is simply saying, you, the United States of America, can continue to borrow the money you need to pay the bills you have already rung up.
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We can have tax cuts, but when we have tax cuts and do not have a surplus, the amount of the tax cut goes straight to the bottom line, adds to the deficit, and the deficit adds to the national debt, and sooner or later, the debt has to be paid.
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I've got a chart here that shows our debt-to-GDP ratio. And while we did run deficits in the past, we now number our debt in trillions rather than in billions. And I think that represents a long-term danger, especially to the, the American dream.
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Money is a good thing to run after. It is very important to be financially stable but you have to keep your wrongs and rights in mind. Don't shy away from earning but without selling your soul.
Shahrukh Khan