A Quote by Paul Samuelson
U.S. capital formation, which has been pretty high in the '90s and very high in the late 1990s, is what is being financed by the savings of the rest of the world, generally poorer than ourselves, because our deficit on current account, chronic deficit, is their surplus, and they have been willingly bringing that to the American market.
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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 trade deficit is the capital surplus and don't ever think of having a capital surplus as being a bad thing for our country.
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.
Well, the U.S. is running a current account deficit; we are creating lots of investment opportunities in the United States that exceed our own domestic savings rates, so the issue here is to encourage higher savings rates in the United States.
The United States as usual has a sizable deficit in the current account of its balance of payments, trade account and other current accounts, current account items.
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.
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.
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.
If a trade deficit is determined solely by rates of savings and investment, then the U.S. trade deficit will be impervious to a get-tough trade policy. Slapping higher tariffs on imports will only deprive foreigners of the dollars they would have earned by selling in the U.S. market.
The biggest deficit that we have in our society and in the world right now is an empathy deficit. We are in great need of people being able to stand in somebody else's shoes and see the world through their eyes.
It is my view that what is important is cutting government spending, however spending is financed. A so-called deficit is a disguised and hidden form of taxation. The real burden on the public is what government spends (and mandates others to spend). As I have said repeatedly, I would rather have government spend one trillion dollars with a deficit of a half a trillion than have government spend two trillion dollars with no deficit.
As a matter of fact, if you do not take into account, as Congressman Ross just stated, the Social Security surplus, our fiscal deficit, ladies and gentlemen, is over $700 billion today.
But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries.
R&D generally has been a bipartisan thing, because in the IT space, in the medical space, the U.S., the benefits to ourselves and the world and our economy have been very, very clear. I'm hopeful we can make a very strong case there. Energy is actually harder; it takes more time to get a product, but if you do it's a very, very big market and the constraints of doing that in a clean way are more obvious all the time.
To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.
Deficit, deficit, deficit. The political and media elites are obsessed with the D-word.
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