A Quote by Franklin Raines
If there's a severe recession, the automatic stabilizers will come into effect, and we will still try to reduce the structural deficit, but we will not try to keep cutting the budget so that we keep worsening a severe recession.
Related Quotes
At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But it will also need additional revenues. Should the government not receive them, we will all get punished with higher interest rates.
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.
I realized that the artists who managed to fight through this recession have a better shot at longevity than most. The recession was a test of your resolve and passion. I think as we come out of these rough times we will be more adept at survival and will have gained the skills necessary to make a long fruitful artistic career. There will still be those that fade away but we are more likely to grow and bend with the times and prosper.
Canada is in budgetary deficit now only because of the recession, only because of stimulus measures, and we will come out of it. We will go back into surplus position when the economy recovers. So there is no need in Canada to raise taxes.
I said we are in a mental recession. We keep getting the steady drumbeat of bad news... it's become a mental recession. We don't have measured negative growth. That's a fact, that's not a commentary.
I just try to keep it fresh. I try to keep it interesting. The truth is my roots are independently spirited dramas that are small, and I will always go back to that well, because that's where I broke out of. But I'm going to keep doing as many different movies as I possibly can.
This recession is the deepest in our lifetimes, the deepest since 1929. If you take the people thrown out of work in the 1982 recession, the 1991 recession, the 2001 recession, not only is this bigger, this is bigger than all of those combined.
People try to get into your life. They try and keep you off-balance, keep you from making good decisions that will empower you - because if your attention field is sharp - you will see if anyone is in your life for ill reasons.
The time will come, and probably during 2009, that the only way the U.S. will be able to fund its deficits is to create money by printing it. The Treasury will have to sell bonds, and, in the absence of foreign buyers, the Fed will have to print the money to buy them. The consequence will be runaway inflation, increasing interest rates, recession, and inevitable tax increases on all Americans.
I will follow the upward road today; I will keep my face to the light. I will think high thoughts as I go my way; I will do what I know is right. I will look for the flowers by the side of the road; I will laugh and love and be strong. I will try to lighten another's load this day as I fare along.
There is no secret, you try and never stop trying. If you have to sleep all day, and get up the next day, you keep trying. If you have to take 3 years away, do it and then come back. But it's all about trying. Not everything will work, but some things will, and you have to try.
Throughout your career people will try to distract you. Some will scream at you, others will say things behind your back, and a few feral animals will literally try to throw their stiletto heel in in your lane and trip you. Keep your eyes straight ahead and just run your race.
This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize.
At the center of every recession is a serious imbalance in the economy and mirrored in the financial system. Think subprime mortgage and the Great Recession, or the technology bubble and the early 2000s recession. There are no such imbalances today.
All pain is either severe or slight, if slight, it is easily endured; if severe, it will without doubt be brief.
Let's be clear: raising taxes during a very slow recovery is likely to lead to another recession, and it will do absolutely nothing to balance the budget.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman