A Quote by Robert H. Frank
We could curtail private spending by several trillion dollars a year without requiring painful sacrifices from anyone. That would be more than enough to rebuild our crumbling infrastructure and eliminate government indebtedness once and for all.
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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.
Millions are unemployed and our roads are falling apart. If we can spend $6 trillion sending people to war, we can spend $1 trillion to put Americans to work fixing our nation's crumbling infrastructure. Let's rebuild America and create jobs.
Our spending priorities are clearly in question when we are increasing bond indebtedness on pet projects such as museums while our infrastructure is allegedly failing. Mississippians are spending more on basic needs than ever. They don’t need their state government making that worse.
Whether government finances its added spending by increasing taxes, by borrowing, or by inflating the currency, the added spending will be offset by reduced private spending. Furthermore, private spending is generally more efficient than the government spending that would replace it because people act more carefully when they spend their own money than when they spend other people's money.
President Obama's call for nearly a half-trillion dollars in more government stimulus when America has more than $14 trillion in debt is guided by his mistaken belief that we can spend our way to prosperity.
We are going to rebuild our infrastructure. I would say at least double her numbers and - and you`re gonna really need more than that. We have bridges that are falling down. People,investors, people would put money into the fund. The citizens would put money into the fund, and we will rebuild our infrastructure with that fund.
OK, so $1 trillion is what it costs to run the federal government for one year. So this money's going to run through September of 2016. Half of the trillion dollars goes to defense spending and the Pentagon. The other half goes to domestic spending - everything from prisons to parks. So there's also about 74 billion in there that goes to the military operations that we have ongoing in Iraq and Afghanistan and Syria.
Private enterprise cannot rebuild the nation's infrastructure or keep our research institutions vibrant. Government must do what only it can do.
Under the Barack Obama rules, if you wanted to help the military, if you wanted a pay raise for the soldiers, if you wanted to buy new airplanes and new ships and more munitions, a dollar for that, you had to have a dollar domestic spending. We just broke that parity. That's the biggest victory we could have had: $25 billion year over year for our military, to begin to rebuild our military, without that kind of corresponding increase in domestic discretionary spending.
If the U.S. Government was a company, the deficit would be $5 trillion because they would have to account by general accepted accounting principles. But actually they encourage government spending, reckless government spending, because the government can issue Treasury bills at extremely low interest rates.
I`d say is stimulus infrastructure spending is not instant jobs. I think the real reason the president [Donald Trump] wants to do this is because we have a crumbling infrastructure problem and you need a good modern infrastructure for economic growth to occur.
Infrastructure is one of the core responsibilities of government and one that cannot be shortchanged by other controversial spending. I believe investment in infrastructure pays dividends for decades and is a wise investment of taxpayer dollars.
We need a national infrastructure bank to rebuild our crumbling highways and water and sewer systems, thereby putting additional people back to work.
To the economically illiterate, if some company makes a million dollars in profit, this means that their products cost a million dollars more than they would have without profits. It never occurs to such people that these products might cost several million dollars more without the incentives to be efficient created by the prospect of profits.
This is one way that wealthy Americans could really contribute. They could put hundreds of millions of dollars into the infrastructure bank, be a good investment for them, for their children, for their grandchildren, and they would directly contribute to revitalizing a big sector of middle-class wages in America and making our country more productive, so that we could create more opportunity. But I think that we could get a lot of grassroots support from, like, local chambers of commerce and other things if they understood exactly how this infrastructure bank would work.
It is always and everywhere the province of the central bank to monetize any spending, the government's or the private sector's, by printing enough money to pay for it in depreciated dollars.
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