Quotes about deficit

A collection of quotes on the topic of deficit, budget, governance, government.

Quotes about deficit

Lewis Carroll photo

“Only the insane equate pain with success."
"The uninformed must improve their deficit, or die."
_Cheshire Cat”

Lewis Carroll (1832–1898) English writer, logician, Anglican deacon and photographer

Source: Alice's Adventures in Wonderland & Other Stories

Barack Obama photo
Abba Lerner photo
Barack Obama photo
Ronald Reagan photo

“I am not worried about the deficit. It is big enough to take care of itself.”

Ronald Reagan (1911–2004) American politician, 40th president of the United States (in office from 1981 to 1989)

Joke at the Gridiron Club annual dinner (24 March 1984)
1980s, First term of office (1981–1985)

Thomas J. Sargent photo

“It is paradoxical that an administration that came to office rejecting the whole apparatus of Keynesian economics finds itself presiding over a stream of what threaten to be permanent deficits.”

Thomas J. Sargent (1943) American economist

Thomas J. Sargent "Back to Basics On Budgets", The New York Times (August 10, 1983).

Eoin Colfer photo
Kelley Armstrong photo
Warren Buffett photo

“I could end the deficit in five minutes. You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

Interview on CNBC http://www.cnbc.com/id/43670783 (1 July 2011)

Donald J. Trump photo
Andy Kessler photo

“Economists may insist we are running a trade deficit, but in reality, we are running a margin surplus.”

Andy Kessler (1958) American writer

Part VII, The Margin Surplus, Why It's Imperative to Drive a Beemer, p. 275 (See also:Robert Kuttner).
Running Money (2004) First Edition

David Graeber photo

“Consumer debt is the lifeblood of our economy. All modern nation states are built on deficit spending. Debt has come to be the central issue of international politics. But nobody seems to know exactly what it is, or how to think about it.”

David Graeber (1961) American anthropologist and anarchist

Source: Debt: The First 5,000 Years (2011), Chapter One, "On The Experience of Moral Confusion", p. 4

Paul Krugman photo
Thomas Friedman photo
Stephen Harper photo
Ron Paul photo

“Tax revenues are up 59 percent since 1980. Because of our economic growth? No. During Carter's four years, we had growth of 37.2 percent; Reagan's five years have given us 30.7 percent. The new revenues are due to four giant Republican tax increases since 1981. All republicans rightly chastised Carter for his $38 billion deficit. But they ignore or even defend deficits of $220 billion, as government spending has grown 10.4 percent per year since Reagan took office, while the federal payroll has zoomed by a quarter of a million bureaucrats… big government has been legitimized in a way the Democrats never could have accomplished. It was tragic to listen to Ronald Reagan on the 1986 campaign trail bragging about his high spending on farm subsidies, welfare, warfare, etc… the IRS has grown bigger, richer, more powerful, and more arrogant. In the words of the founders of our country, our government has "sent hither swarms" of tax gatherers "to harass our people and eat out their substance." His officers jailed the innocent George Hansen, with the President refusing to pardon a great American whose only crime was to defend the Constitution. Reagan's new tax "reform" gives even more power to the IRS. Far from making taxes fairer or simpler, it deceitfully raises more revenue for the government to waste… I want to totally disassociate myself from the policies that have given us unprecedented deficits, massive monetary inflation, indiscriminate military spending, an irrational and unconstitutional foreign policy, zooming foreign aid, the exaltation of international banking, and the attack on our personal liberties and privacy.”

Ron Paul (1935) American politician and physician

Letter to chairman of the RNC http://www.textfiles.com/politics/ron_paul.txt Frank Fahrenkopf (March 1987).
1980s

Donald J. Trump photo

“President Obama has weakened our military by weakening our economy. He's crippled us with wasteful spending, massive debt, low growth, a huge trade deficit and open borders.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, April, Foreign Policy Speech (27 April 2016)

Gary Johnson photo

“I may have vetoed more legislation than the other forty-nine governors in the country combined. And it wasn't just saying, "no," it was really looking at what we were spending our money on and what we were getting for the money we were spending. And I really do believe in smaller government, I really believe that there are consequences of legislation that gets passed and maybe it isn't in our best interest to pass all the legislation that we pass, that it layers bureaucracy on transactions that aren't made any safer by you and I, but that just end up making it so much more cumbersome, so much more burdensome, and ends up adding a lot of money as opposed to the notion of liberty and freedom and the personal responsibility that goes along with that… My entire life I watched government spend more money than what it takes in and I just always thought that there would be a day of reckoning with regard to that spending, and I think that day of reckoning is here, that it's right now, and it needs to be fixed… But what I said then and I'll say now, I think that Republicans would gain a lot of credibility in this argument if Republicans would offer up a repeal of the Prescription Health Care Benefit that they passed when they had control of both houses of Congress and ran up record deficits.”

Gary Johnson (1953) American politician, businessman, and 29th Governor of New Mexico

Announcement of Intention to Run for the Republican Nomination for President of the United States
YouTube
2011-04-21
http://youtu.be/lBlA7yEiiZs
2012-02-24
Sound Government

James Bovard photo

“Attention Deficit Democracy produces the attitudes, ignorance and arrogance that pave the way to political collapse.”

James Bovard (1956) American journalist

From Attention Deficit Democracy (Palgrave, 2006) http://www.jimbovard.com/Epigrams%20Attention%20Deficit%20Democracy.htm

Paul Krugman photo
Ilana Mercer photo
Michael Hudson (economist) photo

“To the deficit commission, a depression is the solution to the problem, not a problem.”

Michael Hudson (economist) (1939) American economist

" Why Government is More Afraid of Debt than Depression http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=6002" Video Interview, The Real News Network (TRNN) (December 16, 2010)

Herbert Hoover photo
Francis Escudero photo
Nigel Lawson photo
Norman Borlaug photo
Paul Krugman photo
John F. Kennedy photo
Alan Greenspan photo
James Meade photo
Michał Kalecki photo

“In a sense the budget deficit can be considered as an artificial export surplus.”

Michał Kalecki (1899–1970) Polish economist

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 51

Éric Pichet photo
Richard Feynman photo

“There are 1011 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.”

Richard Feynman (1918–1988) American theoretical physicist

from a 1987 class, as quoted in David L. Goodstein, "Richard P. Feynman, Teacher," Physics Today, volume 42, number 2 (February 1989) p. 70-75, at p. 73
Republished in the "Special Preface" to Six Easy Pieces (1995), p. xx.

Alan Greenspan photo
Harry V. Jaffa photo

“Pro-slavery impulse still governs the Democratic Party, the party of government sinecures. It is the party that wants to use political power to tax us not for any common good, but to eat while we work. Consider the Great Society and its legacy. In the fall of 1964, I was on the speech-writing staff of the Goldwater campaign. In September and October I went on a number of forays to college campuses, where I debated spokesmen for our opponents. My argument always started from here. In 1964 the economy, thanks to the Kennedy tax cuts, was growing at the remarkable annual rate of four percent. But federal revenues were growing at 20 percent; five times as fast. The real issue in the election, I said, was what was to happen to that cornucopia of revenue. Barry Goldwater would use it to reduce the deficit and to further reduce taxes; Lyndon Johnson would use it to start vast new federal programs. At that point I could not say what programs, but I knew that the real purpose of them would be to create a new class of dependents upon the Democratic Party. The ink was hardly dry on the election returns before Johnson invented the war on poverty; and proved my prediction correct. One did not need to be cynical to see that the poor were not a reason for the expansion of bureaucracy; the expansion of bureaucracy was a reason for the poor. Every failure to reduce poverty was always represented as another reason to increase expenditures on the poor. The ultimate beneficiary was the Democratic Party. Every federal bureaucrat became in effect a precinct captain, delivering the votes of his constituents. His job was to enlarge the pool of constituents. But every increase in that pool meant a diminution of our property and our freedom.”

Harry V. Jaffa (1918–2015) American historian and collegiate professor

1990s, The Party of Lincoln vs. The Party of Bureaucrats (1996)

Bernie Sanders photo

“Mr. Speaker, in the brief time I have let me give you five reasons why I'm opposed to giving the President a blank check to launch a unilateral invasion and occupation of Iraq and why I will vote against this resolution.One: I have not heard any estimates of how many young American men and women might die in such a war, or how many tens of thousands of women and children in Iraq might also be killed. As a caring nation, we should do everything we can to prevent the horrible suffering that a war will cause. War must be the last recourse in international relations, not the first.Second, I am deeply concerned about the precedent that a unilateral invasion of Iraq could establish in terms of international law and the role of the United Nations. If President Bush believes that the US can go to war at any time against any nation, what moral or legal obligation can our government raise if another country chose to do the same thing.Third, the United States in now involved in a very difficult war against international terrorism, as we learned tragically on September eleventh. We are opposed by Osama Bin Ladin and religious fanatics who are prepared to engage in a kind of warfare that we have never experienced before. I agree with Brent Scowcroft, Republican former national security adviser for President George Bush senior, who stated and I quote, "An attack on Iraq at this time would seriously jeopardize if not destroy the global counter-terrorist campaign we have undertaken."Fourth, at a time when this country has a six-trillion dollar national debt and a growing deficit, we should be clear that a war and a long-term American occupation of Iraq could be extremely expensive.Fifth, I am concerned about the problems with so-called unintended consequences. Who will govern Iraq when Saddam Hussein is removed? And what role will the US play in an ensuing civil war that could develop in that country? Will moderate governments in the regions who have large Islamic fundamentalist populations be overthrown and replaced by extremists? Will the bloody conflict between Israel and the Palestinian Authority be exacerbated? And these are just a few of the questions that remain unanswered.”

Bernie Sanders (1941) American politician, senator for Vermont

Speech on Iraq War Resolution in US House of Representatives https://www.youtube.com/watch?v=NdFw1btbkLM (9 October 2002)
2000s

Benito Mussolini photo

“We want an extraordinary heavy taxation, with a progressive character, on capital, that will represent an authentic partial expropriation of all wealth; seizures of all assets of religious congregations and suppression of all the ecclesiastic Episcopal revenues, in what constitutes an enormous deficit of the nation and a privilege for a minority; revisions of all contracts made by the war ministers and seizure of 85% of all war profits.”

Benito Mussolini (1883–1945) Duce and President of the Council of Ministers of Italy. Leader of the National Fascist Party and subsequen…

From Mussolini's Fasci Italiani di Combattimento (Italian Combat Fasci), Il Popolo d'Italia newspaper, June 6, 1919. Speech published in Revolutionary Fascism, by Erik Norling, Lisbon, Finis Mundi Press (2011) p. 92.
1910s

Satu Hassi photo

“EU countries lose approximately €1,000 billion with tax avoidance. If Finland would receive of this €1,000 billion 1 % in relation to its population in the EU, it would be €10 billion. The famous deficit would be fixed up. If tax avaidance is not restricted we continue to have deficits and budget cuts.”

Satu Hassi (1951) Finnish politician and MEP

Variant: EU countries lose approximately €1,000 billion with tax avoidance. If Finland would receive of this €1,000 billion 1 % in relation to its population in the EU, it would be €10 billion. The famous deficit would be fixed up. If tax avaidance is not restricted we continue to have deficits and budget cuts.
Source: Satu Hassi: Veronkierto vai hyvinvointivaltio, Voima 10/213 In Finnish: EU-maiden arvioidaan menettävän veronkierron vuoksi 1000 miljardia euroa. - Jos Suomi saisi tuosta 1000 mrd eurosta prosentin, eli väestöosuutemme EU:ssa, se olisi 10 mrd. euroa. Kuuluisa kestävyysvaje olisi hoidettu. Ellei veronkiertoa suitsija, vajeista ja budjettileikkauksista päästä eroon.

William Shockley photo
Michael Hudson (economist) photo

“So the game plan is not merely to free the income of the wealthiest class to “offshore” itself into assets denominated in harder currencies abroad. It is to scrap the progressive tax system altogether. … How stable can a global situation be where the richest nation does not tax its population, but creates new public debt to hand out to its bankers? … The “solution” to the coming financial crisis in the United States may await the dollar’s plunge as an opportunity for a financial Tonkin Gulf resolution. Such a crisis would help catalyze the tax system’s radical change to a European-style “Steve Forbes” flat tax and VAT sales-excise tax…. More government giveaways will be made to the financial sector in a vain effort to keep bad debts afloat and banks “solvent.” As in Ireland and Latvia, public debt will replace private debt, leaving little remaining for Social Security or indeed for much social spending. … The bottom line is that after the prolonged tax giveaway exacerbates the federal budget deficit – along with the balance-of-payments deficit – we can expect the next Republican or Democratic administration to step in and “save” the country from economic emergency by scaling back Social Security while turning its funding over, Pinochet-style, to Wall Street money managers to loot as they did in Chile. And one can forget rebuilding America’s infrastructure. It is being sold off by debt-strapped cities and states to cover their budget shortfalls resulting from un-taxing real estate and from foreclosures. Welcome to debt peonage. This is worse than what was meant by a double-dip recession. It will be with us much longer.”

Michael Hudson (economist) (1939) American economist

Obama's Bushism http://michael-hudson.com/2010/12/obamas-bushism/ (December 8, 2010)
Michael-Hudson.com, 1998-

Ron White photo
Ann Coulter photo

“I mean, for Pete’s sake, you can’t get into the military, or used to not be able to get into the military, who knows now, if you had asthma, psoriasis, attention deficit disorder, but we’re going to bring in people with an extremely peculiar and rare mental illness…and have the taxpayers pay for it.”

Ann Coulter (1961) author, political commentator

Trump's transgender ban tweets were a good distraction from his Sessions tweets: Ann Coulter
2017-07-27
Fox News Business
http://www.foxbusiness.com/politics/2017/07/27/trumps-transgender-ban-tweets-were-good-distraction-from-his-sessions-tweets-ann-coulter.html
2017

Götz Aly photo
Russell Brand photo
Gary Johnson photo
Éric Pichet photo
Mike Lee (U.S. politician) photo

“The American people want a balanced budget. They want Congress to stop this barbaric practice of perpetual deficit spending. It really, if you think about it, is a form of taxation without representation. We fought a war over that issue and we won that war.”

Mike Lee (U.S. politician) (1971) American politician

Tea Party Senator Mike Lee: We Need to Change the Way We Spend Money in Washington http://www.foxnews.com/transcript/2011/04/12/tea-party-senator-mike-lee-we-need-change-way-we-spend-money-washington.html (April 12, 2011)

Nigel Lawson photo
Michael O'Leary (businessman) photo

“We're already in honk up to, above our ears. You can't continue to run these fiscal deficits. It has to be eliminated!”

Michael O'Leary (businessman) (1961) businessman, CEO of Ryanair

Newsnight Interview (February 24, 2011)

Augustus De Morgan photo
Kristi Noem photo

“When you look at February's (2011) deficit spending alone, and the fact that it was larger than what our total deficit spending was in 2007, the proposals that the Senate is sending us simply are ridiculous, because it's not even a solution. It doesn't address the amount of spending that we have in a week's time. We need to get serious.”

Kristi Noem (1971) South Dakota politician

Reisner, Hiram. Rep. Noem: Senate Budget Proposals ‘Ridiculous’ http://www.newsmax.com/InsideCover/Noem-Budget-Proposals-Ridiculous/2011/03/11/id/389116, NewsMax, March 11, 2011.

Willy Brandt photo
Bill O'Reilly photo
Ilana Mercer photo

“But public works, economic protectionism, cheap money, 'deficit-financed government spending,' and 'the animal spirits of the spendthrift' in the service of boosting 'consumption demand'… Doesn't Keynesianism simply appeal to the worst in human nature?”

Ilana Mercer South African writer

"John Maynard Keynes: Where’s The Genius?! (Part 2) http://www.economicpolicyjournal.com/2013/08/john-maynard-keynes-wheres-genius-part-2.html Economic Policy Journal, August 23, 2013.
2010s, 2013

Carl Rowan photo
Indra Nooyi photo
Alan Greenspan photo

“I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.”

Alan Greenspan (1926) 13th Chairman of the Federal Reserve in the United States

Source: 2000s, The Age of Turbulence (2008), Chapter Ten, "Downturn", p. 218.

Michael Hudson (economist) photo
Ben Bernanke photo

“To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.”

Ben Bernanke (1953) American economist

Speech given on Apr. 7, 2010 to the Dallas Regional Chamber of Commerce, "Economic Challenges: Past, Present and Future" http://www.federalreserve.gov/newsevents/speech/bernanke20100407a.pdf. (See pages 13-14 of the speech transcript).

Michał Kalecki photo

“In any case of the budget deficit the private sector of the economy receives more from government expenditure than it pays in taxes.”

Michał Kalecki (1899–1970) Polish economist

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 51

Lyndon B. Johnson photo

“I was informed this afternoon by the distinguished Secretary of the Treasury that his preliminary estimates indicate that our balance of payments deficit has been reduced from $2.8 billion in 1964 to $1.3 billion, or less, in 1965. This achievement has been made possible by the patriotic voluntary cooperation of businessmen and bankers working with your government. We must now work together with increased urgency to wipe out this balance of payments deficit altogether in the next year. And as our economy surges toward new heights we must increase our vigilance against the inflation which raises the cost of living and which lowers the savings of every family in this land. It is essential, to prevent inflation, that we ask both labor and business to exercise price and wage restraint, and I do so again tonight. I believe it desirable, because of increased military expenditures, that you temporarily restore the automobile and certain telephone excise tax reductions made effective only 12 days ago. Without raising taxes—or even increasing the total tax bill paid—we should move to improve our withholding system so that Americans can more realistically pay as they go, speed up the collection of corporate taxes, and make other necessary simplifications of the tax structure at an early date.”

Lyndon B. Johnson (1908–1973) American politician, 36th president of the United States (in office from 1963 to 1969)

1960s, State of the Union Address (1966)

Roy Jenkins photo

“The sense of shame that the Chancellor should have felt is far more personal. It is a sense of shame for having taken over an economy with a £1,000 million surplus and running it to a £2,000 million deficit. It is a sense of shame for having conducted our internal financial affairs with such profligacy that our public accounts are out of balance as never before. It is a sense of shame for having presided over the greatest depreciation of the currency, both at home and abroad, in our history. It is a sense of shame for having left us at a moment of test far weaker than most of our neighbours…There is, I believe, a greater threat to the effective working of our democratic institutions than most of us have seen in our adult lifetimes. I do not believe that it springs primarily from the machinations of subversively-minded men, although no doubt they are there and are anxious to exploit exploitable situations. It comes much more dangerously from a widespread cynicism with the processes of our political system. I believe that the Chancellor contributed to that on Monday. I believe that it poses a serious challenge to us all…None of us should seek salvation through chaos. There is a duty too to recognise that we could slip into a still worse rate of inflation and a world spiral-ling downwards towards slump, unemployment and falling standards, with our selves, temporarily at least, well in the vanguard. What is required is neither an imposed solution nor an open hand at the till. The alternative to reaching a settlement with the miners is paralysis…The task of statesmanship is to reach a settlement but to do it in a way which opens no floodgates for if they were opened, it would not only damage everyone but it would undermine the differential which the miners deserve and which the nation now needs them to have.”

Roy Jenkins (1920–2003) British politician, historian and writer

Speech http://hansard.millbanksystems.com/commons/1973/dec/19/economic-and-energy-situation in the House of Commons (19 December 1973)
1970s

Martin Luther King, Jr. photo
Hans Haacke photo
Ann Coulter photo
Dick Cheney photo

“You know, Paul, Reagan proved that deficits don't matter. We won the mid-term elections, this is our due.”

Dick Cheney (1941) American politician and businessman

Remarks on Paul O'Neill http://www.cbsnews.com/stories/2004/01/09/60minutes/main592330.shtml (January 9, 2004)
2000s, 2004

Nigel Lawson photo

“Economic and monetary union…is incompatible with independent sovereign states with control over their own fiscal and monetary policies. It would be impossible…to have irrevocably fixed exchange rates while individual countries retained independent monetary policies…such a system could never have the credibility necessary to persuade the market that there was no risk of realignment. Thus EMU inevitably implies a single European currency, with monetary decisions…taken not by national Governments and/or central banks, but by a European Central Bank. Nor would individual countries be able to retain responsibility for fiscal policy. With a single European monetary policy there would need to be central control over the size of budget deficits and, particularly, over their financing. New European institutions would be required, to determine overall Community fiscal policy and agree the distribution of deficits between individual Member States…It is clear that Economic and Monetary Union implies nothing less than European Government…and political union: the United States of Europe. That is simply not on the agenda now, nor will it be for the forseeable future.”

Nigel Lawson (1932) British Conservative politician and journalist

Speech to the Royal Institute for International Affairs, Chatham House (25 January 1989), quoted in The View from No. 11: Memoirs of a Tory Radical (London: Bantam, 1992), p. 910.

Alfred de Zayas photo
Josh Marshall photo

“With all the efforts now to disassociate President Bush from conservatism, I am starting to believe that conservatism itself — not the political machine, mind you, but the ideology — is heading toward that misty land-over-the-ocean where ideologies go after they've shuffled off this mortal coil. Sort of like the way post-Stalinist lefties used to say, "You can't say Communism's failed. It's just never really been tried."But as it was with Communism, so with conservatism. When all the people who call themselves conservatives get together and run the government, they're on the line for it. Conservative president. Conservative House. Conservative Senate.What we appear to be in for now is the emergence of this phantom conservatism existing out in the ether, wholly cut loose from any connection to the actual people who are universally identified as the conservatives and who claim the label for themselves.We can even go a bit beyond this though. The big claim now is that President Bush isn't a conservative because he hasn't shrunk the size of government and he's a reckless deficit spender.But let's be honest: Balanced budgets and shrinking the size of government hasn't been part of conservatism — or to be more precise, Movement Conservatism — for going on thirty years. The conservative movement and the Republican party are the movement and party of deficit spending. And neither has any claim to any real association with limited or small government. Just isn't borne out by any factual record or political agenda. Not in the Reagan presidency, the Bush presidency or the second Bush presidency. The intervening period of fiscal restraint comes under Clinton.”

Talking Points Memo (2006-06-13) http://www.talkingpointsmemo.com/archives/008733.php

Peter D. Schiff photo
Dennis Kucinich photo
Paul Krugman photo
David Cameron photo
Roy Jenkins photo

“The combined efforts of Government policy since 1979 have been not to improve but substantially to worsen our competitive position. We have gone from a huge manufacturing surplus of £5.5 billion in 1980 to a 1986 third quarter deficit of £8 billion a year…Even with oil production continuing for some time, the current account has gone from a £3 billion surplus to a deficit predicted by the Chancellor of £1.5 billion…Sadly, the Government's great contribution, having refused to stimulate the economy by more respectable means, is a roaring consumer boom, which there is not the slightest chance of their moderating before an election. A roaring consumer boom does not, to any significant extent, mean more employment. In our competitive position, worsening under the Government, it means overwhelmingly higher imports, a still worse balance of payments position and a classic path to perdition. To have produced, after seven and a half years, the combination of total monetary muddle, a worsened competitive position, a widespread doubt in other countries as to how we are to pay our way in the future, a desperately vulnerable currency and the prospect of an unending plateau of the highest unemployment in a major country in the industrialised world is a unique achievement over which the Chancellor is an appropriate deputy acting presiding officer.”

Roy Jenkins (1920–2003) British politician, historian and writer

Speech http://hansard.millbanksystems.com/commons/1986/nov/06/economic-policy in the House of Commons (6 November 1986)
1980s

Ilana Mercer photo
Michał Kalecki photo
Indra Nooyi photo
Mitt Romney photo

“I actually think it will be interesting to listen to the President tonight. What I'd like him to do is report on his promises but there are forgotten promises and forgotten people. Over the last four years, the President has said that he was going to create jobs for the American people and that hasn't happened. He said he would cut the deficit in half and that hasn't happened. He said that incomes would rise and instead incomes have gone down. And I think this is a time not for him not to start restating new promises but to report on the promises he made. I think he wants a promises reset. We want a report on the promises he made. And that means let's hear some numbers. Let's hear 16. Sixteen trillion dollars of debt. This is very different than the promise he made. Let's hear the number 47. 47 million people in this country on food stamps. When he took office, 33 million people were on food stamps. Let's understand why it was he's been unsuccessful in helping alleviate poverty in this country. Why so many people have fallen from the middle class into poverty under this president. Let's have him explain to the American people the 50% number. Why 50% of college graduates can't find work or work that is consistent with their college degree. The President needs to report tonight on his promises rather than try and reset a whole series of new promises that he also won't be able to keep.”

Mitt Romney (1947) American businessman and politician

2012-09-06
http://mittromneycentral.com/2012/09/06/romney-on-obamas-speech-tonight-americans-want-a-report-on-presidents-promises/
Romney on Obama’s Speech Tonight: Americans Want A Report On President’s Promises
Mitt Romney Central
2012

William Ewart Gladstone photo
George W. Bush photo
Al Gore photo
Mario Draghi photo

“The crisis has not been overcome, but there are many encouraging signs. The economy is recovering in many countries, the imbalances in European trade are declining and the budget deficits in the monetary union are falling.”

Mario Draghi (1947) Italian banker and economist

spiegel.de http://www.spiegel.de/international/europe/spiegel-interview-with-ecb-president-mario-draghi-a-941489.html.

Ron Paul photo
Calvin Coolidge photo
Ron Paul photo
Tom Rath photo
Nigel Lawson photo
Michał Kalecki photo

“Armaments and wars, usually financed by budget deficits, are also a source of this kind of profits.”

Michał Kalecki (1899–1970) Polish economist

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 52

Roy Jenkins photo

“First, there is really no sign at all of any significant reduction in unemployment without a major change in policy…Unemployment has probably levelled out but at a totally unacceptable figure. Secondly, contrary to what the Secretary of State said, the post-oil surplus prospect—not merely the post-oil prospect, because the oil will take a long time to go, but the surplus, the big balance of payments surplus, which is beginning to decline quite quickly—still looks devastating…our balance of payments is now overwhelmingly dependent on this highly temporary and massive oil surplus. Our manufacturing industry is shrunken and what remains is uncompetitive…We have a manufacturing trade deficit of approximately £11 billion, all of which has built up in the past three to four years. This is containable by oil and by nothing else. Invisibles can take care of about £4 billion or £5 billion but they cannot do the whole job. As soon as oil goes into a neutral position we are in deep trouble. Should it go into a negative position, the situation would be catastrophic…To sell off a chunk of capital assets and to use the proceeds for capital investment in the rest of the public sector might just be acceptable. However, that is not what is proposed, and what is proposed cannot be justified on any reputable theory of public finance; and when it is accompanied by a Minister using the oil—which might itself be regarded as a capital asset; certainly it is not renewable—almost entirely for current purposes, it amounts to improvident finance on a scale that makes the Prime Minister's old friend General Galtieri almost Gladstonian.”

Roy Jenkins (1920–2003) British politician, historian and writer

Speech http://hansard.millbanksystems.com/commons/1985/nov/12/industry-and-employment in the House of Commons (12 November 1985).
1980s

Ann Coulter photo

“Between issuing laws prohibiting discrimination against transgendered individuals and running up a $38 billion deficit, the California Legislature mandated a three-week immersion course in Islam for all seventh-graders.”

Ann Coulter (1961) author, political commentator

It's the winter solstice, Charlie Brown!
2003-09-25
JewishWorldNews
http://www.jewishworldreview.com/cols/coulter092503.asp
2003