A Quote by John Redwood
The three main political parties all agree the UK deficit is high and needs to be brought down. All agree that it is easier to get a deficit down if you have faster growth, cutting unemployment-related costs and raising revenues.
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In New Mexico, I inherited the largest structural deficit in state history, and our legislature is controlled by Democrats. We don't always agree, but we came together in a bipartisan manner and turned that deficit into a surplus. And we did it without raising taxes.
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.
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.
Deficit, deficit, deficit. The political and media elites are obsessed with the D-word.
Faster economic growth helps raise the economy which raises revenues. And that helps us tackle the deficit. There's two things we've got to do to get rid of this debt. Deal with entitlements, that's why we're frustrated health care reform hasn't passed the senate yet.
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.
When Republicans say, 'The first thing you do when you do deficit reduction is reduce rates,' it would be like Democrats saying, 'The first thing you do when you do deficit reduction is provide free Medicare at age 55.' We'd like to do that! But it won't bring the deficit down. That's for sure.
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 young people I teach now know they are being sold down the river before we even start studying the trends and numbers. That's the toughest part of being a high school economics teacher... being a witness when our children realize that the greatest deficit of all is a deficit of leadership.
Because what happens is, as the economy suffers, tax revenues go down. But unlike businesses, where at least your variable costs go down, in government your variable costs go up: unemployment insurance, workmen's compensation, health care benefits, welfare, you name it.
will stifle economic growth, destroy jobs, reduce revenues, and increase the deficit.
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.
We're actually just moving one type of deficit to another. But, the problem with this second type of deficit is that you drive on it and then it falls down.
Budget deficits are not caused by wild-eyed spenders, but by slow economic growth and periodic recessions. And any new recession would break all deficit records. In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the rates now.
We are worried about the size of the deficit, which is why the president is pleased that the House and Senate have followed his lead in cutting the deficit in half over the next five years.
When we look at cutting people's commute - like that word infrastructure is boring. Who knows what that means? But what it really means is we got to cut people's commutes, we got to reduce congestion. Congestion costs the economy tens of billions of dollars a year to have people just stuck in traffic and non-productive time. So we got to fix that. And the best way to do that is invest in transit. And - so I'm happy that all three of the main parties seem to agree that investing in transit is important.
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