A Quote by Jon Huntsman, Jr.
And the trajectory that our debt is taking now beyond $14 trillion is going to have an impact on our currency. It goes south, and our currency's going to have an impact on our standard of living and affect every family in this country, and over time, our international competitiveness.
Related Quotes
We're bankrupting our country and we have an empire that we're trying to defend which costs us $1 trillion a year. And the standard of living is going down today. It's going down and the middle class is hurting because of the monetary policy. When you destroy a currency, the middle class gets wiped out.
The problem is that the way [President] Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents - number 43 added $4 trillion dollars by his lonesome - so that we now have over $9 trillion dollars of debt that we are going to have to pay back. [That's] $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic.
When we have $20 trillion in debt, and our country's a mess, you know, it's one thing to have $20 trillion in debt and our roads are good and our bridges are good and everything's in great shape, our airports. Our airports are like from a third world country.
Our jobs are fleeing the country. They're going to Mexico. They're going to many other countries. You look at what China is doing to our country in terms of making our product. They're devaluing their currency, and there's nobody in our government to fight them. And we have a very good fight. And we have a winning fight. Because they're using our country as a piggy bank to rebuild China, and many other countries are doing the same thing.
I think that all of the cyber attacks that are taking place, but particularly this - the Russian one, had a profound impact on the American system, on our political process, on our - it invaded the space of our election. The releasing on a regular basis of one party's stolen emails had an impact, and I think that other things also had an impact.
I think that when we look out with our underfunded liabilities and our national debt over $14 trillion, I think if we are part of that movement to get our government spending under control, I think that would be a tremendous legacy to leave.
My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. . .you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. . .I think you could see a 25% reduction in the standard of living in this country if the U.S. dollar was no longer the world's reserve currency. That's how valuable it is.
We've lost our sense of outrage, our anger, and our grief about what's going on in our culture right now, what's going on in our country, the atrocities that are being committed in our names around the world. They've gone missing; these feelings have gone missing.
Dreams are more personal. We tend to only dream about issues that impact us directly: our careers, our marriage, our children, our family and friends.
What I'm concerned about is endless borrowing, which is going to compromise our economy not only today but in the future. Because we know the decisions we make right now really dramatically impact us in the future, and the debt is literally getting out of our control.
Now we are raising the debt limit 3 times, up to $8 trillion, so that our children and our grandchildren will have to pay for the cost of our expenditures.
Each of us will one day be judged by our standard of life, not by our standard of living; by our measure of giving, not by our measure of wealth; by our simple goodness, not by our seeming greatness.
We have managed to acquire $13 trillion of debt on our balance sheet. In my view we have nothing to show for it. We haven't invested in our roads, our bridges, our waste-water systems, our sewer systems. We haven't even maintained the assets that our parents and grandparents built for us.
We want to decide how we control our borders, our money, our economy, our currency.
Britain is one of the world's most open economies. More dependent on trade than any other major country. Our success depends on our competitiveness and our competitiveness depends on raising our productivity, as our competitors are raising theirs.
Every action or inaction has an impact-good or bad-upon our surroundings, and anything we do today will have an impact on the lives of our grandchildren.
Related Authors
Alexander Hamilton Quotes
American
Politician
Benjamin Franklin Quotes
American
Politician
Bernie Sanders Quotes
American
Politician
David Brooks Quotes
American
Politician
Hillary Clinton Quotes
American
Politician
Jill Stein Quotes
American
Politician
John F. Kerry Quotes
American
Politician
John McCain Quotes
American
Politician
Marco Rubio Quotes
American
Politician
Mitt Romney Quotes
American
Politician
Narendra Modi Quotes
Indian
Politician
Newt Gingrich Quotes
American
Politician
Paul Ryan Quotes
American
Politician
Rand Paul Quotes
American
Politician
Ron Paul Quotes
American
Politician
Ted Cruz Quotes
American
Politician