Barack Obama: Deficits Existential Crisis

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?” — Barack Obama

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.

Mike Bloomberg: Tax Bill Economics

Mike Bloomberg Money Quote saying the republican tax bill makes all current economic problems worse and does not help the country. Mike Bloomberg said:

“The tax bill does nothing to address our most pressing economic challenges like wage stagnation, inequality, rising deficits and crumbling infrastructure. In fact, it makes each of them worse” — Mike Bloomberg

Mike Bloomberg is criticizing the tax bill that was passed. He argues that it fails to address important economic issues facing the country like stagnating wages, growing inequality between the wealthy and others, rising budget deficits, and deteriorating infrastructure. Bloomberg goes on to say that rather than helping these problems, the tax bill will actually make each one worse.

By pointing these out, he appears to believe the tax bill was a missed opportunity to enact policies that could have stimulated broader-based economic growth and improved social conditions for many Americans.

The tax bill does nothing to address our most pressing economic challenges like wage stagnation, inequality, rising deficits and crumbling infrastructure. In fact, it makes each of them worse. https://t.co/5UllWnkvXZ

— Mike Bloomberg (@MikeBloomberg) December 15, 2017

Barack Obama: Rage About Deficits

Barack Obama Money Quote during his farewell address in Chicago saying We can’t accept hypocrisy of budget cutting childcare but not taxes cut for corporate welfare. Barack Obama said:
 

 

“How can elected officials rage about deficits when we propose to spend money on preschool for kids, but not when we’re cutting taxes for corporations?” — Barack Obama

In this quote, Barack Obama seems to be criticizing the double standard of some elected officials when it comes to spending priorities and deficits. A few key points:

• He questions how politicians can express outrage over deficits when spending is proposed for programs like preschool education for children.
• However, those same officials often do not voice the same level of concern about deficits when proposing tax cuts for large corporations.
• Obama implies this is a hypocritical position, as both spending and tax cuts impact the deficit, yet one type of proposal receives more criticism than the other.
• He appears to be arguing that investments in education should be viewed as equally or more worthwhile in terms of economic and social impact compared to tax breaks for corporations.

Overall, the quote suggests Obama believes some officials selectively apply their deficit concerns based more on ideological preferences rather than fiscal responsibility, and that spending on areas like education deserves as much or more support than tax policies that primarily benefit large businesses.

Michael Connolly: Printing Inflationary Evil

Michael Connolly Money Quotation saying governments that are tempted to print money during financial crises are playing with Seigniorage fire. Michael Connolly said:
 

 

“Seigniorage finance of fiscal deficits is often known as ‘the printing press.’ In a sense, money is the root of all inflationary evil. It helps to understand why inflation bursts out here and there periodically” — Michael Connolly

Michael Connolly is explaining how governments can fuel inflation through deficit spending and money creation. The quote suggests that when governments fund budget shortfalls by essentially “printing” new money through seigniorage (profits from minting currency), this amounts to using the “printing press” to pay bills.

Connolly asserts that money itself is the underlying cause of inflation, as too much money in circulation relative to available goods will bid up prices. He’s saying periodic inflation outbreaks occur because governments will periodically resort to deficit monetization as a way to finance expenditures without raising taxes.

The overall interpretation is that Connolly views money creation as the root driver of inflation, and sees deficit spending paid for via seigniorage as a primary method by which inflation periodically emerges in various economies.

Richard Lamm: Kids Christmas, Adults Pay For It

Richard Lamm Money Quotation saying children sometimes get things at Christmas they don’t pay for, but can end up paying the government for everything in the future anyway. Richard Lamm said:
 

 

“Christmas is a time when kids tell Santa what they want and adults pay for it. Deficits are when adults tell the government what they want and their kids pay for it” — Richard Lamm

The Christmas money quote is about how government deficits are similar to how children ask Santa for gifts at Christmas but don’t pay for them, while adults will tell the government what they want but it will be their children who ultimately have to pay for it through taxes or other means.

The quote is criticizing how government spending can burden future generations with debt. It was said by Richard Lamm, a former governor of Colorado.

Birthday: August 3, 1935 – Death: July 29, 2021