national debt

"Many of you have talked about the need to pay down our national debt. I listened, and I agree. We owe it to our children and grandchildren to act now... My plan pays down an unprecedented amount of our national debt." George W. Bush, Feb. 27, 2001.

"Reagan proved deficits don't matter." Dick Cheney, Nov. 15, 2002

"Our projected budget deficits are not 'manageable' without significant changes in 'status quo' programs, policies, processes and operations.... We cannot simply grow our way out of this problem." David Walker, Comptroller GAO, Sep. 18, 2003