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Economics Quotes

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Economics Quotes

“It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve years (1980-1992) under the Republicans. Bill Clinton actually paid down the national debt. How did he do it? He raised taxes. It produced the longest sustained economic expansion in U.S. History.”

“Good government cannot be found on the bargain-counter. We have seen samples of bargain-counter government in the past when low tax rates were secured by increasing the bonded debt for current expenses or refusing to keep our institutions up to the standard in repairs, extensions, equipment, and accommodations. I refuse, and the Republican Party refuses, to endorse that method of sham and shoddy economy.”

“[Donald] Trump and all the Republicans believe in the theory of trickle down economics which is a theory discredited even by the author himself David Stockton. The theory suggests that if we take care of the people at the top, if we cut taxes for the wealthy, if we make sure they are doing really well, then the investments that they make in the economy and the jobs that will create, will make everything grow and it will have a trickle down effect on the rest of us.”

“Trump is popular, Trump is big precisely because Republican voters are angry at establishment Republicans. And establishment Republicans keep giving these people reason to be mad by continuing to insult them, and by appearing to agree with Democrats on key issues a majority of Americans disagree with, from amnesty to whatever, economics, Obamacare, take your pick.”

“Raising the minimum wage and lowering the barriers to union organization would carry a trade-off - higher unemployment. A better idea is to have the government subsidize low-wage employment. The earned-income tax credit for low-income workers - which has been the object of proposed cuts by both President Clinton and congressional Republicans - has been a positive step in this direction.”

“Republican leaders have made clear they have no plans to use the power of government to stimulate the economy, invest in job creation and spur job growth. The Fed's plan is to give banks more money to finance the private sector job creation. But banks have ample cash now; they aren't lending, and the private sector is not creating the jobs. That is why we have 15 million people unemployed.”

“Republicans don't have to accept evolution, economics, climatology, or human sexuality, but I just watched a week of their national convention, and I need them to admit the historical existence of George W. Bush. If your party can run the nation for eight years and then have a national convention and not invite Bush, Cheney, Rumsfeld, Colin Powell, Karl Rove, or Tom DeLay, you're not a political movement, you're the witness protection program.”