3 Quotes Tagged: deficit

What is raised by printing notes is just as much taken from the public as is a beer-duty or an income-tax. What the Government spends the public pays for. There is no such thing as an uncovered deficit.

As we peer into society's future, we — you and I, and our government — must avoid the impulse to live only for today, plundering for our own ease and convenience the precious resources of tomorrow. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow.

I could end the deficit in five minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.