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Economic Quotes

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Economic Quotes

“The core of America is not racist. It is not hostile to women. It is increasingly offended by gay bashing. Yet it abhors government waste. It believes strongly in fiscal responsibility such as balanced budgets. It is pro-economic growth. It is concerned about the environment. It is intolerant of people on welfare who disdain the notion of work. But it wants poor kids to have school lunches and it wants to spend money to have good schools. In sum, most Americans are sensible, good-hearted, and prudent. The issue, then, is whether there is a political party that can welcome them home.”

“Everybody complains about pork, but members of Congress keep spending because voters do not throw them out of office for doing so. The rotten system in Congress will change only when the American people change their beliefs about the proper role of government in our society. Too many members of Congress believe they can solve all economic problems, cure all social ills, and bring about worldwide peace and prosperity simply by creating new federal programs. We must reject unlimited government and reassert the constitutional rule of law if we hope to halt the spending orgy.”

“The larger the government, the more our livings standards are reduced. We are fortunate as a civilization that the progress of free enterprise generally outpaces the regress of government growth, for, if that were not the case, we would be poorer each year - not just in relative terms, but absolutely poorer too. The market is smart and the government is dumb, and to these attributes do we owe the whole of our economic well-being.”

“Those who advocate more and more government regulation have been experimenting for 40 years, trying to create an economic system in which everyone can somehow be made more prosperous by the toil of someone else.”

“We must remove government's smothering hand from where it does harm; we must seek to revitalize the proper functions of government. We do these things to set loose again the energy and the ingenuity of the American people. We do these things to reinvigorate those social and economic institutions which serve as a buffer and a bridge between the individual and the state - and which remain the real source of our progress as a people.”

“Obama has paid and will continue to pay dearly for betting on his stimulus package. Because of it, the Bush recession is becoming the Obama recession much faster than it would have had he adopted a more gradual approach to solving economic problems. By jumping in immediately, as he did, in order to increase government spending and pass eight years of Democratic dreams in one day, he made the public expect a solution.”

“If increased government spending with borrowed or newly created money is a 'stimulus,' then the Weimar Republic should have been stimulated to unprecedented prosperity, instead of runaway inflation and widespread economic desperation that ultimately brought Adolf Hitler to power.”

“Until the 1930s, the Constitution served as a major constraint on federal economic interventionism. The government's powers were understood to be just as the framers intended: few and explicitly enumerated in our founding document and its amendments. Search the Constitution as long as you like, and you will find no specific authority conveyed for the government to spend money on global-warming research, urban mass transit, food stamps, unemployment insurance, Medicaid, or countless other items in the stimulus package and, even without it, in the regular federal budget.”

“Liberals believe and inexhaustible fund exists that can be tapped endlessly to pay for government social programs. Tax the rich and give it to a long line of moochers, pork barrel hustlers and ne'er-do-wells. These funds would otherwise have been employed as additional capital indispensable to economic progress.”

“Beware leverage in all its forms. Borrowers - individual, corporate, or government - should always match fund their liabilities against the duration of their assets. Borrowers must always remember that capital markets can be extremely fickle, and that it is never safe to assume a maturing loan can be rolled over. Even if you are unleveraged, the leverage employed by others can drive dramatic price and valuation swings; sudden unavailability of leverage in the economy may trigger an economic downturn.”

“It is impossible to manage the health care requirements of tens of millions of American citizens at the federal level. It is impossible to manage all of the permutations of people's economic aspirations and lives through a complex tax code. It is impossible to try to second-guess the market. It is impossible, from a managerial standpoint, for the federal government to do the things it is trying to do today.”

“I'm a big believer in getting money from where the money is, and the money is in Washington. I learned from running the Olympics that you can get money there to help build economic opportunities. We actually got over $410 million from the federal government; that is a huge increase over anything ever done before. We did that by going after every agency of government. That kind of creativity I want to bring to everything we do (in Massachusetts).”

“The growing inequality of wealth and income distribution is both a moral and economic problem. If the wealthy are unwilling to pay more taxes, then this is going to lead to spending cuts. And if you put off the table things like national defense, then you're going to end up cutting more and more out of programs that aid the poor. So, I think there are consequences to this idea that tolerance for inequality requires us to - to just do nothing to make the wealthy contribute a higher share of resources to fund the government.”

“A minimum-wage law, a law that prevents employers and employees from entering into mutually beneficial economic exchanges, is as far from a free market or free enterprise as one can get. That's why it causes so much damage and destruction, especially to black teenagers and others whose labor, for one reason or another, is valued by employers at less than the government-established minimum wage.”

“The primary factor that enables our government to peddle economic snake oil is the dollar's unique role as the world's reserve currency, and our creditors' willingness to preserve its status. By buying up dollars and loaning them back to us through Treasury debt, productive countries give American politicians cart blanche to play Santa Claus.”

“Instead of solving economic problems, government welfare socialism created monstrous moral and spiritual problems - the kind of problems that are inevitable when individuals turn responsibility for their lives over to others.”

“The most encouraging trend of our time is the widespread loss of faith in government. No longer do people look to the government as the great problem solver, economic planner, social unifier, or cultural czar. The government is more likely to be seen for what it is, a haven for grafters, liars, and would-be tyrants. Americans, like the Russians, no longer believe anything until it is officially denied.”

“Government mandates, incidentally, are likely to distort rather than solve the problem of finding a market. I would, therefore, force my organization to live by its wits rather than to rely on capricious subsidies or non-economic-based regulation to fuel my business.”

“With a chip on his shoulder larger than his margin of victory, Barack Obama is approaching his second term by replicating the mistake of his first. Then his overreaching involved health care - expanding the entitlement state at the expense of economic growth. Now he seeks another surge of statism, enlarging the portion of gross domestic product grasped by government and dispensed by politics. The occasion is the misnamed "fiscal cliff," the proper name for which is: the Democratic Party's agenda.”

“Anecdote: The East End seemed to be in the grip of yet another economic crisis. ... By the winter of 1933, an army of the unemployed gathered daily outside the dock gates, desperate for a day or 2 paid work. .... There was no cushion, no disaster fund, no stashed savings, no government handouts no syrup that could sweeten the bitter pill of poverty.”

“The US is often the first to call for transparency and integrity in the reporting of other governments. It has never provided transparency or integrity in its reporting on the war in Iraq. It has downplayed the growth of the insurgency and other civil conflicts. It exaggerated progress in the development of Iraqi forces, and has reported meaningless macroecomic figures claiming 'progress' in the face of steadily deteriorating economic conditions for most Iraqis outside the Kurdish security zone, and does so in the face of almost incredible incompetence by USAID and the Corps of Engineers.”

“Our Government is fostering economic growth in Kitchener, Cambridge and all of the Waterloo Region by investing in our innovative businesses. Today's announcement is a great example of how we are helping high-potential companies bring great ideas to market faster. Helping our entrepreneurs and original thinkers export their products and services to the rest of the world creates jobs, growth and economic prosperity here at home.”

“Through our government's updated science, technology and innovation strategy, we are making the record investments necessary to push the boundaries of knowledge, create jobs and opportunities, and improve the quality of life of Canadians. Our government's Canada Research Chairs Program develops, attracts and retains top talent researchers in Canada whose research, in turn, creates long-term social and economic benefits while training the next generation of students and researchers in Canada.”

“Our Government understands that local, community organizations are essential in addressing social issues like economic development, poverty, education and integration in Canadian communities. The Community and College Social Innovation Fund will connect the innovative talent of researchers and students at colleges and polytechnics to meet the research needs of local community organizations to build stronger, safer, healthier communities.”

“These events are swirling around them. In the white community, people felt like they had no control over their neighborhoods, their destiny. In the black community, centuries of government and economic forces were pushing on them. I went in with a kind of arrogance, maybe, that came from living in a very intellectual family, and I left knowing that there was a lot about the way people lived that I didn't know about.”

“Social mobility decreased under Labour and under the current government it is reversing. The differences between the poorest and richest are returning to Victorian levels. We don't have open sewers and infant mortality rates at fifty percent but in economic terms we're getting to a level of disparity we haven't seen for a couple of hundred years. And we're getting there very quickly.”

“If I could say something about Capricornia, and it came out in your previous report, there is no doubt that the end of the mining boom has led to an economic downturn in central Queensland, and that is why people in Capricornia, and elsewhere in central Queensland too, are so desperate for a government that will protect their jobs and create new opportunities for jobs in the future. And that is why [Malcolm] Turnbull government's message of jobs and growth and its six point economic plan is so important to them.”

“I think what Donald Trump is saying to people is that America has way more leverage at the negotiating table than America has used in the past. And whether you like it or not, the government and trade representatives have made the decision not to use that leverage. And it has had an economic impact on the lower and middle class.”

“I've laid out my economic plans. I want to grow the economy. That's why I have plans for jobs and raising incomes. I do want to go after bad actors on and off Wall Street, because I think companies that take money from federal, state, and local governments and then pick up and move should have to pay that back.”