A Quote by Jim Flaherty
I'm still a fiscal conservative, and I'm inclined to pay down debt.
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I don't understand how the Republican party is the party with the reputation for fiscal conservatism and fiscal sanity, when they're the ones who run up the debt. It was Reagan who ran up the debt and now Bush is doing it again, and in between, Clinton and Bush's father, I must say, worked so hard to get that deficit and that debt down.
There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they've run up - to pay their mortgage debt, to pay the credit card debt, to pay student loans.
The moment a large investor doesn't believe a government will pay back its debt when it says it will, a crisis of confidence could develop. Investors have scant patience for the years of good governance - politically fraught fiscal restructuring, austerity and debt rescheduling - it takes to defuse a sovereign-debt crisis.
If we're going to win in 2016, we need a consistent conservative: someone who has been a fiscal conservative, a social conservative, a national security conservative.
To me, there is no greater threat than our debt. I'm the only fiscal conservative on the stage because I'm willing to hold the line on all spending.
As a fiscal conservative, I think that our government should pay for itself.
I would note that the scripture tells us, "you shall know them by their fruit." We see lots of "campaign conservatives." But if we're going to win in 2016, we need a consistent conservative, someone who has been a fiscal conservative, a social conservative, a national security conservative.
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.
Where fiscal space is low, fiscal policy needs to adjust in a growth-friendly manner to ensure public debt is on a sustainable path, while protecting the most vulnerable.
Our debt is out of control. What was a fiscal challenge is now a fiscal crisis. We cannot deny it; instead we must, as Americans, confront it responsibly. And that is exactly what Republicans pledge to do.
For highly indebted governments, low interest rates are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize banks. The shift to a high sovereign-debt-yield equilibrium would make it impossible to achieve fiscal balance.
We need a wealth tax that on a one-time basis is going to take back at least some small fraction of the great windfall that the upper 1 percent, or 5 percent and pay down the government debt, pay back the federal debt because we can't put this on the next generation or they're going to be buried paying taxes.
I am conservative with a small 'c.' It's possible to be conservative in fiscal policy, and tolerant on moral issues or questions of freedom of expression.
An example of good debt is the debt on the apartment houses I own. That debt is good only as long as there are tenants to pay my mortgages. If tenants stop paying their rent, my good debt turns into bad debt.
As a fiscal conservative, I believe one of the most important roles the federal government can play in assuring that our economy remains strong is to keep our fiscal house in order.
There is a lot of fiscal conservatives in the United States senate that didn't vote for that because we understand that national security spending is not the reason why we have a debt. Our debt is being driven by the way Social Security, Medicare, and Medicaid and, by the way, the interest on the debt is structured in the years to come.
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