A Quote by Ed Balls
Trying to cut the deficit too far, too fast isn't working. The government must adopt a steadier, more balanced plan to get our deficit down and take immediate action now to support the economy and create jobs here in Britain.
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Our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve -- and I believe this can be done -- a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.
The deficit - the U.S. knows our deficit is too large. We are committed to bringing it down. We are bringing it down. The deficit came in for fiscal year '05 at considerably below where it was the prior year.
Democrats in Washington predicted that tax cuts would not create jobs, would not increase wages, and would cause the federal deficit to explode. Well, the facts are in. The tax cuts have led to a strong economy. Real wages were on the rise, and deficit has been cut in half three years ahead of schedule.
It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.
The American people will eventually get hurt by this accumulated deficit. That's the problem. We have too much deficit. We have to find a solution.
I've never been able to get it straight about what these people who are worried about the trade deficit are worried about. When they say that we're buying too much from overseas, that we're sending too many dollars overseas to get all these goods and services they got, they're saying that the American dollar is too strong and that is hurting our economy. And the result of this will be that the American dollar will get too weak, and that will hurt our economy.
When I introduced my economic plan for the first time, people had mixed views because it's the largest cut in the history of Israeli budgets. We have a big deficit caused by the fact that the former government took upon itself too many obligations.
The UK downgrade will come as little surprise to many. It does not appear to be occurring because the UK is cutting its deficit too far and too fast.
It is vital that we get these policies right as we take forward our plans to drive down the deficit and transform our economy.
So when folks talk about the deficit and leaving the deficit for our children, we will never get out of debt had this country until people get back to work, until they have good-paying jobs, and in between times, we will not move this economy forward until we are helping people be able to keep going in this recession.
Some people worry about our federal deficit, but I, I worry about our bravery deficit. Our economy, our society - we're just losing out because we're not raising our girls to be brave. The bravery deficit is why women are underrepresented in STEM, in C-suites, in boardrooms, in Congress, and pretty much everywhere you look.
With a congressional mandate to run the deficit up as high as need be, there is no reason to raise taxes now and risk aggravating the depression. Instead, Obama will follow the opposite of the Reagan strategy. Reagan cut taxes and increased the deficit so that liberals could not increase spending. Obama will raise spending and increase the deficit so that conservatives cannot cut taxes. And, when the economy is restored, he will raise taxes with impunity, since the only people who will have to pay them would be rich Republicans.
The problem with our deficit is not because Americans are taxed too little. The problem with the deficit is because Washington spends too much money. We have got to stop spending money we don't have.
The federal budget deficit isn't the nation's major economic problem and deficit reduction shouldn't be our major goal.
Our problem is lack of good jobs and sufficient growth, and our goal must be to revive both.
Through Economic Action Plan 2015, our Government will continue to help create jobs, encourage skills development and balance the budget in 2015. I look forward to hearing Canadians' ideas on what we can do to further support and grow the economy for the benefit of all Canadians.
Challenges of historic import threaten America's future. Action on the deficit, economy, energy, health care and much more is imperative, yet our legislative institutions fail to act. Congress must be reformed.
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