Posts Tagged ‘deficit’

Walter Cronkite: Increasing Taxes

Posted by admin on Monday, November 4, 2019

Walter Cronkite Money Quote saying with a journalist’s perspective that cutting taxes seems as though it would have the opposite effect of the stated goal. Walter Cronkite said:
 
It seems to me that instead of cutting taxes, we ought to be increasing the taxes to pay off the deficit, rather than build up to the point where our grandchildren's grandchildren are going to be paying for our years at the helm Quote
 

“It seems to me that instead of cutting taxes, we ought to be increasing the taxes to pay off the deficit, rather than let that thing build up to the point where our grandchildren’s grandchildren are going to be paying for our period of time and our years at the helm” — Walter Cronkite

 

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In this quote, legendary news anchor Walter Cronkite is advocating for increasing taxes rather than cutting them in order to pay down the national debt and budget deficit. He suggests that by reducing taxes, it will only cause the deficit to continue growing increasingly large over time.

Cronkite worries that this will saddle many future generations with paying off the massive debt accumulated by earlier times, with their “grandchildren’s grandchildren” still feeling the burden.

Overall, Cronkite is expressing the view that responsible fiscal policy requires raising necessary tax revenue to start chipping away at the deficit, rather than pursuing tax cuts that exacerbate the debt problem and shift the costs to descendants far in the future.

Birthday November 4, 1916 – Died July 17, 2009

Barack Obama: Deficits Existential Crisis

Posted by admin on Wednesday, September 12, 2018

Barack Obama Money Quote saying Republicans fought Medicare because they refused to increase the deficit, but congress increased the deficit by $1 Trillion by approving a tax cut to the rich and to corporations. Barack Obama said:
 
 Suddenly deficits do not matter, even though, just two years ago, when the deficit was lower, they said, I couldn’t afford to help working families or seniors on Medicare because the deficit was an existential crisis. What changed? Quote
 

“Suddenly deficits do not matter, even though, just two years ago, when the deficit was lower, they said, I couldn’t afford to help working families or seniors on Medicare because the deficit was an existential crisis. What changed?” — Barack Obama

 

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In this quote, Barack Obama seems to be criticizing shifting priorities and rhetoric around federal budget deficits between Republican administrations. Some key points:

  • He notes that recently, deficits are no longer portrayed as a major issue or “crisis” as they were when he was president, despite being at a lower level then.
  • Obama questions what has changed to cause this reversal, implying it is politically motivated rather than reflecting objective economic assessments.
  • He suggests that previously during his term, Republicans blocked initiatives to aid working families and seniors due to deficit concerns, but those same concerns are now absent even as deficits are higher.
  • Obama appears to believe deficit worries were disingenuously used as excuses by opponents to block his agenda rather than sincere fiscal policy positions, given the contradictory messaging depending on who occupies the White House.

Overall, the quote conveys Obama’s view that Republican rhetoric portraying deficits as an “existential crisis” was hypocritically deployed for partisan aims rather than principled fiscal responsibility, as evidenced by the shifting priorities and alarmism depending on political circumstances rather than objective deficit levels.

Warren Buffett: Five Minutes Deficit

Posted by admin on Sunday, June 11, 2017

Warren Buffett Money Quote saying if you make congress responsible for keeping their jobs by keeping the deficit in check, they would certainly be up to that task. Warren Buffett said:
 
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 Quote
 

“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” — Warren Buffett

 

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Warren Buffett is suggesting that if members of Congress knew that running a deficit over 3% of GDP would make them ineligible for reelection, they would be strongly motivated to balance the budget.

By making their jobs dependent on keeping the deficit low, Buffett argues that Congress would take deficit reduction more seriously and take politically difficult steps to cut spending and raise revenue that could balance the budget. His point is that the threat of losing their jobs could force Congress to tackle the deficit in a serious way that has so far been lacking.

Mick Mulvaney: Republican, Democrat Deficit

Posted by admin on Friday, December 16, 2016

Mick Mulvaney Money Quote saying his priority is spending less taxpayer money regardless of political affiliation of the appropriation. Mick Mulvaney said:
 
A Republican deficit is the same as a Democrat deficit Quote
 

“A Republican deficit is the same as a Democrat deficit” — Mick Mulvaney

 

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In this quote, Mick Mulvaney seems to be arguing that budget deficits should not be viewed or treated differently based on which political party is in power. A few key points:

  • Mulvaney is directly challenging the notion that deficits are only a problem when one party controls government versus another.
  • He implies Republicans are being hypocritical if they criticize deficits under Democrats but ignore or downplay them when their own party is in the White House.
  • The quote suggests Mulvaney believes deficits themselves are the real issue regardless of partisan politics, rather than just a cudgel used against the opposing team.
  • Overall, Mulvaney appears to be calling for a more consistent and bipartisan approach to fiscal responsibility that does not spin deficits as only a concern depending on electoral outcomes.

So in summary, this quote conveys Mulvaney’s view that budget deficits should be evaluated based on their economic impact rather than exploited for political gain against the other party in power.

Bill Maher: Unemployment Sky Didn’t Fall

Posted by admin on Monday, July 11, 2016


 
Bill Maher Money Quote saying Republicans expected calamity if liberal policies were implemented, but California proved them wrong on employment and deficits. Bill Maher said:
 
California sky didn’t fall, unemployment did, and growth shot up to over four percent, and a 26 billion dollar deficit became an 11 billion dollar surplus Quote
 

“[California] did all the stuff conservatives warned us would make things even worse but the sky didn’t fall, unemployment did, and growth shot up to over four percent, and a 26 billion dollar deficit became an 11 billion dollar surplus” — Bill Maher

 

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In this quote, Bill Maher is referring to conservative warnings about policies implemented in California, such as raising taxes and spending more on social programs. He notes that contrary to the predictions, good things happened as a result – unemployment decreased, economic growth increased significantly to over 4%, and the large budget deficit turned into a sizable surplus.

Maher seems to be arguing that California’s actions disproved conservative claims that such policies would ruin the economy and finances. His words suggest that California thrived despite doing what conservatives said would make the situation much worse.

Overall, Maher appears to be using California’s example to challenge conservative views on fiscal and economic policy issues.

Ronald Reagan: Not Worried About Deficit

Posted by admin on Tuesday, June 12, 2012

Funny Money Quotes: Joking about the national debt by saying that its bulk conveys responsibility upon itself for a very large problem. Ronald Reagan said:
 
I am not worried about the deficit. It is big enough to take care of itself Quote
 

“I am not worried about the deficit. It is big enough to take care of itself” — Ronald Reagan

 

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In this quote, Ronald Reagan is expressing a lack of concern about the size of the federal budget deficit. His interpretation seems to be that once deficits grow large enough, political and economic pressures will naturally force governments to take action to address them through spending cuts or tax increases.

Reagan appears to believe that very large deficits contain within them the seeds of their own solution, since politicians and the public will demand fiscal discipline as debt mounts to unsustainable levels.

However, critics could argue that Reagan underestimated how long it might take for deficits to self-correct, and that rapidly expanding national debt still poses economic risks in the interim.

Overall, Reagan conveys a view that deficits may be a short-term problem that will automatically fix themselves over the long-run, without necessarily requiring proactive measures.

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