Spending Quotes - page 9
If inflation priced us out of world markets we should be back in the old nightmare of unemployment. What folly to risk throwing away all that we have gained. ... Our first duty at a time when there is more money about than goods to spend it on is to keep down Government expenditure. ... The second duty of the Government is to frame policies which encourage saving and discourage spending. ... in the long run there is only one answer to the 64,000 dollar question-to increase production. That is the answer. That is where the real hope lies.
Harold Macmillan
To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble. Judging by Mr. Greenspan's remarkably cheerful recent testimony, he still thinks he can pull that off. But the Fed chairman's crystal ball has been cloudy lately; remember how he urged Congress to cut taxes to head off the risk of excessive budget surpluses? And a sober look at recent data is not encouraging.
Paul Krugman
The best you can say about economic policy in this slump is that we have for the most part avoided a full repeat of the Great Depression. I say "for the most part” because we actually are seeing a Depression-level slump in Greece, and very bad slumps elsewhere in the European periphery. Still, the overall downturn hasn't been a full 1930s replay. But all of that, I think, can be attributed to the financial rescue of 2008-2009 and automatic stabilizers. Deliberate policy to offset the crash in private spending has been largely absent.
Paul Krugman
I would summarize the Keynesian view in terms of four points:1. Economies sometimes produce much less than they could, and employ many fewer workers than they should, because there just isn't enough spending. Such episodes can happen for a variety of reasons; the question is how to respond.
2. There are normally forces that tend to push the economy back toward full employment. But they work slowly; a hands-off policy toward depressed economies means accepting a long, unnecessary period of pain.
3. It is often possible to drastically shorten this period of pain and greatly reduce the human and financial losses by "printing money”, using the central bank's power of currency creation to push interest rates down.
4. Sometimes, however, monetary policy loses its effectiveness, especially when rates are close to zero. In that case temporary deficit spending can provide a useful boost. And conversely, fiscal austerity in a depressed economy imposes large economic losses.
Paul Krugman
To protect people's lives and keep our children safe, we must implement public-works spending and do so proudly. If possible, I'd like to see the Bank of Japan purchase all of the construction bonds that we need to issue to cover the cost. That would also forcefully circulate money in the market. That would be positive for the economy, too.
Shinzō Abe
I do not believe -- and I have never believed -- that the crack cocaine explosion was a conscious CIA conspiracy, or anybody's conspiracy, to decimate black America. I've never believed that South Central Los Angeles was targeted by the U. S. government to become the crack capitol of the world. But that isn't to say that the CIA's hands or the U. S. government's hands are clean in this matter. Actually, far from it. After spending three years of my life looking into this, I am more convinced than ever that the U. S. government's responsibility for the drug problems in South Central Los Angeles and other inner cities is greater than I ever wrote in the newspaper.
Gary Webb
There have been two or three meetings held in the City of London... attended by the same class of people, but not ending up with a resolution promising to pay. On the contrary, we are spending the money, but they won't pay. What has happened since to alter their tone? Simply that we have sent in the bill. We started our four Dreadnoughts. They cost eight millions of money. We promised them four more; they cost another eight millions. Somebody has got to pay, and then these gentlemen say: "Perfectly true; somebody has got to pay, but we would rather that somebody were somebody else". We started building; we wanted money to pay for the building; so we sent the hat round. We sent it round amongst workmen, and the miners and weavers of Derbyshire and Yorkshire, and the Scotchmen of Dumfries, who, like all their countrymen, know the value of money, they all dropped in their coppers. We went round Belgravia, and there has been such a howl ever since that it has well-nigh deafened us.
David Lloyd George
We want money for the defence of the country, to provide pensions for the old people who have been spending their lives tilling the soil at a very poor pittance, in sinking those mines, and risking their lives, and when they are old we do not want to starve them or humiliate them-and we say what better use can you make of wealth than to use it for the purpose of picking up the broken, healing, curing the sick, bringing a little more light, comfort, and happiness to the aged? These men ought to feel honoured that Providence has given them the chance to put a little into the poor box. And since they will not do it themselves we have got to do it for them.
David Lloyd George
Must be a strange life these days, for toes. A simple twist of fate and they could have been the big boys, the much-feted opposables, spending their days busy carrying things and controlling machinery and touching interesting parts of people's bodies. They don't get to do any of that. Instead they just get pushed into small, dark leather places and forgotten about, and when they're let free they often seem little more than a strange fringe on the ends of your feet.
Michael Marshall Smith
When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans. Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.
Ron Paul
Mr. Speaker, I once again find myself compelled to vote against the annual budget resolution for a very simple reason: it makes government bigger. [...] We need to understand that the more government spends, the more freedom is lost. Instead of simply debating spending levels, we ought to be debating whether the departments, agencies, and programs funded by the budget should exist at all. My Republican colleagues especially ought to know this. Unfortunately, however, the GOP has decided to abandon principle and pander to the entitlements crowd. But this approach will backfire, because Democrats will always offer to spend even more than Republicans. When Republicans offer to spend $500 billion on Medicare, Democrats will offer $600 billion. Why not? It's all funny money anyway, and it helps them get reelected. [...] The increases in domestic, foreign, and military spending would not be needed if Congress stopped trying to build an empire abroad and a nanny state at home.
Ron Paul
The growth in money and credit has outpaced both savings and economic growth. These inflationary pressures have been concentrated in asset prices, not consumer price inflation--keeping monetary policy too easy. This increase in asset prices has fueled domestic borrowing and spending. Government policy and the increase in securitization are largely responsible for this bubble. In addition to loose monetary policies by the Federal Reserve, government-sponsored enterprises Fannie Mae and Freddie Mac have contributed to the problem. The fourfold increases in their balance sheets from 1997 to 1998 boosted new home borrowings to more than $1.5 trillion in 1998, two-thirds of which were refinances which put an extra $15,000 in the pockets of consumers on average--and reduce risk for individual institutions while increasing risk for the system as a whole.
Ron Paul
It really doesn't matter whether I'm right or wrong: the war is going to end because we're gonna have such a political and financial havoc here with the devaluation of our dollar, because we just can't keep affording it. This is usually how empires end, by spending too much money maintaining their empire. We're in 130 countries, we have 700 bases around the world, and it's going to come to an end. I want it to come to an end more gracefully and peacefully, follow the constitution, and follow a more sensible foreign policy.
Ron Paul
