A Quote by Angus Deaton
If you think about those bailouts that happened in 2008, that was a situation in which the government gave, at our expense, enormous sums of money to some of the richest people who have ever existed on Earth.
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I think the bailouts in 2008 were wrong. And I think, you look in hindsight, it was a lot of misinformation that was presented about the bailouts of the banks in the West.
It's very difficult for the American people to believe that our government, one of the richest on Earth, is also one of the stingiest on Earth.
It wasn't government that gave us nearly 50 million uninsured Americans and denials for pre-existing conditions. It wasn't government that gave us the yearly and lifetime caps on insurance coverage that have sent so many people into bankruptcy when they've faced a serious illness or accident... It wasn't government that gave us a system in which the gap between what we spend and what we get is so enormous. It was the free market.
I think people like Bill Gates, who have given away enormous sums of money, are shining examples for all of us to follow.
If an angel should be winged from Heaven, on an errand of mercy to our country, the first accents that would glow on his lips would be, Beware! Be cautious! You have everything to lose; nothing to gain. We live under the only government that ever existed which was framed by the unrestrained and deliberate consultations of the people. Miracles do not cluster. That which has happened but once in six thousand years cannot be expected to happen often. Such a government, once gone, might leave a void, to be filled, for ages, with revolution and tumult, riot and despotism.
We have the idea of saying that put limitations on bailouts, so that the bailouts don't occur in the future, so that we don't have to do the - look to see AIG situations or Bear Stearns situations or the Fannie Mae or Freddie Mac, which is probably going to be more money spent on those two institutions than the Congress spent on the TARP program.
My concern about Barack Obama is he ran a campaign in 2008 where he said we're going to bring people together and solve big problems. And he specifically talked about the need to reach across the aisle and deal with issues like the economy, which was obviously the top issue in 2008. It has not happened.
I think the bailouts in 2008 were wrong.
Never work just for money. Money alone won't save your soul or build a decent family life or help you sleep at night. We're the richest nation on Earth, with the highest number of imprisoned people in the world. Our drug addictions and child poverty are among the highest in the industrialized world. So don't ever confuse wealth or fame with character.
The best way to encourage economic vitality and growth is to let people keep their own money.When you spend your own money, somebody's got to manufacture that which you're spending it on. You see, more money in the private sector circulating makes it more likely that our economy will grow. And, incredibly enough, some want to take away part of those tax cuts. They've been reading the wrong textbook. You don't raise somebody's taxes in the middle of a recession. You trust people with their own money. And, by the way, that money isn't the government's money; it's the people's money.
Most of us are aware of the sacrificial slaughter of Bear Sterns. Some people call it a bailout, but I call it a handout - a government handout to some of the richest people on Earth, paid for by American taxpayers.
He is the richest man who enriches his country most; in whom the people feel richest and proudest; who gives himself with his money; who opens the doors of opportunity widest to those about him; who is ears to the deaf, eyes to the blind, and feet to the lame.
There's all kind of evidence that there is enormous corruption in the distribution of that money. For example, they gave about $100 to $150 dollars to each of the teachers. They gave about $500 dollars to those who were getting married. Through this process, they obviously collected a lot of votes, but these monies could not solve the structural problems that these people face. But the only result, the only consequence, was that a big sum from the budget was wasted this way.
When Things Fall Apart” and I quote “Life is a good teacher and a good friend. Things are always in transition, if we could only realize it. Nothing ever sums itself up in the way that we like to dream about. The off-center, in-between state is an ideal situation, a situation in which we don't get caught and we can open our hearts and minds beyond limit. It's a very tender, nonaggressive, open-ended state of affairs.
Food is at the core of our lives in ways we don't always think about - how it affects our environment, how it affects our health and well-being, how it affects the expense of society, the expense of government.
You can have parties without spending enormous sums of money.
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