A Quote by Craig Ferguson
Saudia Arabia takes in half a trillion dollars every year in oil revenue, and the country has a population smaller than New York state, but when your system of government is an eleventh century monarchy, someone's going to end up poor, and it's not gonna be the guy whose first name is King.
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It is my view that what is important is cutting government spending, however spending is financed. A so-called deficit is a disguised and hidden form of taxation. The real burden on the public is what government spends (and mandates others to spend). As I have said repeatedly, I would rather have government spend one trillion dollars with a deficit of a half a trillion than have government spend two trillion dollars with no deficit.
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.
The larger point is this: We've invested over half a billion dollars in New York since this department was stood up. We've given New York more money, by more than double, than any other city in the country.
OK, so $1 trillion is what it costs to run the federal government for one year. So this money's going to run through September of 2016. Half of the trillion dollars goes to defense spending and the Pentagon. The other half goes to domestic spending - everything from prisons to parks. So there's also about 74 billion in there that goes to the military operations that we have ongoing in Iraq and Afghanistan and Syria.
President Obama has offered a plan with 4 trillion dollars in debt reduction over a decade, with two and a half dollars of spending reductions for every one dollar of revenue increases, and tight controls on future spending. It's the kind of balanced approach proposed by the bipartisan Simpson-Bowles commission.
President Obama's call for nearly a half-trillion dollars in more government stimulus when America has more than $14 trillion in debt is guided by his mistaken belief that we can spend our way to prosperity.
We have a balance of $ .32 in the bank . . . Which makes us four-and-a-half trillion dollars richer than the federal government.
If one is talking to a finance minister of a poor country, moral arguments tend not to get very far. But if you can argue that their country is going to grow 2 percent faster per year if they can just harness the power of the female half of the population more effectively, that is an argument they consider.
There is a sound reason why one and a half billion dollars are spent for cosmetics in your country every year, and only half that sum for education: There are no naturally pretty girls in the United States.
When you look what is happening in this country with the debt, the deficit, the CBO coming out and saying once again we're going to have a trillion dollar plus deficit in 2012, the fourth straight year, and unemployment may be going back up to 8.9 or maybe nine percent by the end of the year, these are serious situations that are going.
What are the prospects for an Arab state serving a leading role comparable to the role that other states place in other regions? There is no obvious candidate. Saudi Arabia has the money but a relatively small population. Iraq was a great potential leader, as a sizable country with great oil resources and a highly educated population, but it went off in the wrong direction.
It is staggering that in the 21st century, half of the world's population - that's three and a half billion people - own no more than a tiny elite whose numbers could all fit comfortably on a double-decker bus.
We are now spending half a trillion dollars on foreign oil, importing 62 percent of the oil we use, and we haven't had the leadership in D.C. to do anything about it. We've got to move to other sources of energy. But we've gotten way behind, and will continue to pay the fiddler. It's not a good future.
Every year when it's Chinese New Year here in New York, there are fireworks going off at all hours. New York mothers calm their frightened children by telling them it's just gunfire.
We paid for this instead of a generation of health insurance, or an alternative energy grid, or a brand-new system of roads and highways. With the $13-plus trillion we are estimated to ultimately spend on the bailouts, we could not only have bought and paid off every single sub-prime mortgage in the country (that would only have cost $1.4 trillion), we could have paid off every remaining mortgage of any kind in this country - and still have had enough money left over to buy a new house for every American who does not already have one.
In the governments, as we've witnessed in the past, they had to hide. Because there's a lot of concentration on the friends-and-family club... We're not about that. That's not the government of the future of the State of New York. What's gonna pull this state out of the doldrums that it's in right now is an honest and open government.
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