Richard M. Daley on Federal Indebtedness
on Saturday, August 16, 2014Richard M. Daley Money Quotation saying he is opposed to government monetary policy and control of the money supply. Richard M. Daley said:
“Well, the problem of the federal government is that they print money and go in debt. That’s their national policy, Democrats and Republicans it doesn’t matter. And this is where I differ” — Richard M. Daley
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In this quote, Richard M. Daley is criticizing the fiscal policies of the U.S. federal government under both Democratic and Republican administrations. He argues that their shared approach is to fund spending by borrowing money and printing more currency, which he sees as problematic.
Daley implies his view “differs” from this consensus approach. The interpretation is that Daley believes continual deficit spending and money printing are unsustainable long-term strategies for the national budget.
He appears to be advocating for more fiscal responsibility, restraint in taking on debt, and limiting the growth of the money supply.
Overall, Daley is expressing disagreement with how both major parties manage the nation’s finances in a way that relies heavily on accumulating debt and expanding the monetary base.