A Quote by David Axelrod
We agree with Simpson and Bowles and others who have looked at this. What's necessary is to stabilize the debt and then work from there. You can't balance the budget in the short term because to do that would be to ratchet down the economy.
Related Quotes
I'm for Simpson-Bowles. It doesn't raise taxes, it closes loopholes and takes the money we would give to a few people and put it on the debt.
Congress needs to stop kicking the proverbial spending can down the road and make the hard decisions necessary to rein in our debt and balance the federal budget.
Obama hasn't passed a budget in four years, he's a wuss. Obama has rejected the recommendation of his own Simpson-Bowles, on a budget package, he's a wuss. He wants to lead from behind, he's a wuss!
If you have a sane economy, and by sane economy I mean one which is not addicted to debt, not a Ponzi economy, then the change in debt each year should contribute a minor amount to demand. Therefore, if you tried to correlate debt to the level of unemployment you would not find much of a correlation. Unfortunately that is not the economy we live in.
All the central banks are doing is substituting one form of debt with another form of debt. They're issuing short term debt and using it to buy long term debt. In finance, we tend to think that's a neutral activity, even though those stimulus programs are huge.
Let's adopt some short-term strategies to get growth going and then let's have a long-term debt reduction package. That's what I think we should do and I think it will work.
In point of fact, 'Simpson-Bowles' has become a symbol, or SimBowl, rather than an actual plan, political shorthand for the process of long-term deficit reduction.
We have to have an aggressive, long-term plan to tackle our nation’s debt, but attempting to balance the budget on the backs of veterans who have risked life and limb in service of our country is unacceptable. I believe we can and should work together to find reasonable and common-sense cuts that will reduce our debt, but as a generation of warriors returns from two wars, our most solemn responsibility is to make sure they have the care and benefits they have earned.
The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.
Goals work. Pick one debt, and then put every dime into paying down that one debt. Once that debt is paid off, start paying down the next debt. Pretty soon it's time to move from paying debt to building savings.
No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure.
'Ratchet' has a lot of meanings. You can be a bad ratchet or a good ratchet. You can have fun, be ghetto, and get ratchet.
Business is all about learning to balance the short-term, medium-term and long-term and I think it's when things are going well it covers up a lot of mistakes and bad decisions because you're growing so quickly.
Well there are tough decisions necessary in budgets. I agree there are tough decisions necessary to ensure the long-term health of the budget. What I don't accept and will never accept is that those decisions must be unfair as a matter of course.
The idea that debt is necessary for trade, and has to be forgiven, is consequent to the rise of a market economy. The idea that debt is wrong and should be punished is a feature of a moral economy.
Actions aimed at supporting deleveraging and balance-sheet repair - such as recognizing losses, writing down assets, and recapitalizing banks - carry longer-term benefits but short-term costs.
Related Authors
Andrew Yang Quotes
American
Public Servant
Ben Bernanke Quotes
American
Public Servant
David Frum Quotes
American
Public Servant
Elizabeth Warren Quotes
American
Public Servant
Henry Paulson Quotes
American
Public Servant
James Comey Quotes
American
Public Servant
Janet Reno Quotes
American
Public Servant
Janet Yellen Quotes
American
Public Servant
Karren Brady Quotes
British
Public Servant
Michael Hayden Quotes
American
Public Servant
Mohammed Saeed al-Sahaf Quotes
Iraqi
Public Servant
Paula White Quotes
American
Public Servant
Samantha Power Quotes
Irish
Public Servant
Steve Bannon Quotes
American
Public Servant
Vivek Murthy Quotes
American
Public Servant
Wendy Kopp Quotes
American
Public Servant