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The first year of the Bush administration we used up all of the surplus and ended up just with the Social Security and Medicare surplus, and each year worse than the year before.

In addition to myself and a number of others, President Clinton talked about the deficit and the debt issue. And he pointed out, really, what I pointed out, which is that when he left office, we actually had projected surpluses for a long period of time, because when he put together his economic plan, he did it in a balanced way.

President Clinton was able to achieve budget surpluses despite a divided government.

When George W. Bush entered office, the national debt was $5 trillion. When he left, it was $10 trillion. I think the administration spent too much money.

According to the White House, the president's proposed 2016-2017 spending would add - get this - $62 billion to the deficit.

We had a $10 billion budget deficit when we got here in January of 2003. We cut that budget deficit; we did not raise taxes; we came back in '05, and we had an $8 billion surplus. That's how fast it can happen.

As a matter of fact, if you do not take into account, as Congressman Ross just stated, the Social Security surplus, our fiscal deficit, ladies and gentlemen, is over $700 billion today.

The debt they ran up in the first year of the Obama administration is bigger than the last four years of the Bush combined.

Clinton passed his first budget without a single Republican vote in either the House or the Senate. Before it led to the longest economic expansion in U.S. history, it led to a Democratic defeat in the 1994 midterms.

If the U.S. Government was a company, the deficit would be $5 trillion because they would have to account by general accepted accounting principles. But actually they encourage government spending, reckless government spending, because the government can issue Treasury bills at extremely low interest rates.