Don’t confuse fiscal discipline with party label. All those parties are all fiscally unsound. I mean, every Republican wants to spend more. Every Dem… - Arthur Laffer

In the 1990's, we had the largest cut in government spending as a share of GDP in the history of the U.S. In the 1990's, we were doing free trade, we passed NAFTA, we went through there. We were for lowering interest rates and controlling money far better. And we weren't regulating nearly as much. We had welfare reform and all of those wonderful things. We had the biggest tax cut in our nation's history. Any comparison between today and the 1990's, it's totally inappropriate. Bill Clinton, as bad a person as he was, was a good president.

Governments are raising taxes for austerity and that doesn’t work. Poor people cannot spend themselves into wealth and governments cannot tax their economies into prosperity. If you tax people who work, and pay people who don’t work, don’t be surprised if you find a lot of people not working…

As my former colleague Milton Friedman often said, ‘Government spending is taxation.’ Beyond the essential services government provides — such as roads, courts, schools, police and fire services, and the military — government spending doesn’t actually create resources. It just redistributes resources. For every beneficiary of government largesse, there’s someone who pays for that largesse.