Our fiat currency is under increasing stress with our large and growing trade deficits. We have a federal deficit that is calculated in the trillions when we take into account the net present value of the future Social Security and Medicaid obligations we are creating today.
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.
When Republicans used reconciliation in 2001 for the Bush tax cuts, they used it to increase the deficit. The whole purpose of reconciliation is for deficit reduction!
When [Republicans] say they can reduce taxes and trim deficits at the same time, they are either deluded or deceptive, and they are playing voters for fools.
We don't need more politicians insisting we have deficits because you're not taxed enough. Those deficits ballooned from an economy that didn't grow enough and from 50 years of government spending too much.
[Deficits are] a yawner. We, as Republicans, have talked about deficits and balanced budgets since the days of Roosevelt, and the people simply haven't listened, because they can't relate to those huge numbers.
For almost 50 years polls have shown that a large majority of the public believe that the budget should be balanced, and for all that time they have elected office seekers who would not balance it. The public cares about deficits, but doesn't care much.
Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.
Senator John Kerry released his plan today to eliminate the deficit. He said all we have to do is find a really rich country like Switzerland and marry it.
In almost every enterprise, government has provided business with opportunities for private gain at public expense. Government nurtures private capital accumulation through a process of subsidies, supports, and deficit spending and an increasingly inequitable tax system.
Coming into World War II, we were seen as a conquering hero for beleaguered people, we are now seen as invader, an occupier. And what that is saying is we have more might than right, so we kind of have a kind of moral deficit disorder. And that's why a leader must lift us back to the higher ground, because at the end of the day what makes you strong is that you are believable, that as significant as might is, ultimately right is even stronger than might.
We are committed to achieving the fiscal deficit target announced in the budget.
Attention deficit is no longer the supposed domain of Generation Y's who were brought up on a diet of social media and new technology. A recent study revealed 65 percent of 55-64 year olds surf, text and watch television simultaneously.
The federal budget deficit isn't the nation's major economic problem and deficit reduction shouldn't be our major goal. Our problem is lack of good jobs and sufficient growth, and our goal must be to revive both.
D energy - Domestic jobs; Domestic energy; Deficit reduction.
I think the need to go on stage speaks to some sort of a profound psychological deficit, but something that happened when you were a kid. Or something your parents did.
We must create wealth and we must cut our deficits.
Unfortunately the Republican tax cut will deny important revenues to many states facing their own deficits. This will create greater pressure for higher state and local taxes.
My advice for Sebastian Kehl is: if you have a 35-point deficit in the league, it is better to shut up.
Budget cuts if you're not rich, tax cuts if you are. Less money for those who don't have any and more to those who do. That's how President Fredo says we're going to get out of the giant deficit hole he's dug. You can't put it any more simply. Rich people richer. Poor people poorer.
We may casually talk of all sorts of new programs and 'stimulus,' but the vast trillion-dollar collective national debt and rising annual deficits will insidiously hamstring almost everything we plan to do.
With a congressional mandate to run the deficit up as high as need be, there is no reason to raise taxes now and risk aggravating the depression. Instead, Obama will follow the opposite of the Reagan strategy. Reagan cut taxes and increased the deficit so that liberals could not increase spending. Obama will raise spending and increase the deficit so that conservatives cannot cut taxes. And, when the economy is restored, he will raise taxes with impunity, since the only people who will have to pay them would be rich Republicans.
The time will come, and probably during 2009, that the only way the U.S. will be able to fund its deficits is to create money by printing it. The Treasury will have to sell bonds, and, in the absence of foreign buyers, the Fed will have to print the money to buy them. The consequence will be runaway inflation, increasing interest rates, recession, and inevitable tax increases on all Americans.
The unprecedented success of Keynesianism is due to the fact that it provides an apparent justification for the 'deficit spending' policies of contemporary governments. It is the pseudo-philosophy of those who can think of nothing else than to dissipate the capital accumulated by previous generations.
Democrats have always wanted to grow government with revenues from our society's producers. They aren't sincere about reducing the deficit, because they will not abandon their addiction to spending other people's money.
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