A Quote by Said Musa
The PUP came into office in 1998 when the public debt of Belize was over $600 million and the economy was at a standstill. When we left office in 2008, ten years later, the debt was higher, but a lot was accomplished: the economy was transformed and the social and physical infrastructure of the country significantly upgraded.
Related Quotes
People think of a business cycle, which is a boom followed by a recession and then automatic stabilizers revive the economy. But this time we can't revive. The reason is that every recovery since 1945 has begun with a higher, and higher level of debt. The debt is so high now, that since 2008 we've been in what I call, debt deflation.
If you have a sane economy, and by sane economy I mean one which is not addicted to debt, not a Ponzi economy, then the change in debt each year should contribute a minor amount to demand. Therefore, if you tried to correlate debt to the level of unemployment you would not find much of a correlation. Unfortunately that is not the economy we live in.
This debt crisis coming to our country. The wall and tidal wave of debt that is befalling our nation. Medicare and Social Security go bankrupt within ten years, we have a debt that is looming so high that in the last year of President Obama's budget just the interest payments on our debt is $916 billion dollars.
When the economy's shrinking, providing jobs, spending on things like infrastructure can actually increase revenue and drive down debt. And then, there's going to be a time at which point debt has to be taken care of.
The idea that debt is necessary for trade, and has to be forgiven, is consequent to the rise of a market economy. The idea that debt is wrong and should be punished is a feature of a moral economy.
There's an argument that private debt, in some way, is creating indentured servants in our country. But public debt does not do that. In fact, public debt does the exact opposite - it relieves private debt.
When Reagan left office, he was the most unpopular living president, apart from Nixon, even below Carter. If you look at his years in office, he was not particularly popular. He was more or less average. He severely harmed the American economy.
If you put Canada into $1.5 trillion in debt and interest rates go up just 200 basis points, you cannot provide the services to 36 million people that were guaranteed to them in the social contract they have with Canada. That's a very, very scary prospect. You can't burden this economy with that much debt. The risk you take on is insurmountable. You have to assume for the next 50 years that rates don't go up? That's insane. That's irresponsible. That's stupid.
Shipping first time code is like going into debt. A little debt speeds development so long as it is paid back promptly with a rewrite. The danger occurs when the debt is not repaid. Every minute spent on not-quite-right code counts as interest on that debt. Entire engineering organizations can be brought to a standstill under the debt load of an unconsolidated implementation, object-oriented or otherwise.
When George Bush came into office, we had surpluses. And now we have half-a-trillion-dollar deficit annually. When George Bush came into office, our national debt was around $5 trillion. It's now over $10 trillion. We've almost doubled it.
Any politician that says no tax revenue or zero spending cuts does not deserve reelection. Our hole is so deep in this country with the debt and the debt service, the interest on that debt, before the big expenses come for Social Security and Medicare - for we baby boomers in a few years - that everything has to be on the table.
We want an economy that grows health and wellbeing, not debt and carbon emissions. An economy that prepares and protects us from shocks to come, rather than making them worse. An economy that shares resources to meet all our needs, regardless of background. An economy that lets us live.
Donald Trump ran for office complaining that at $19 trillion, the US debt was completely out of control, and yet what he's planning to do is throw trillions of dollars more onto that debt. If the proposed tax plan cuts upon the wealthiest Americans is enacted, 10 years from now America's debt will be over $30 trillion. And so, he's contradicting, his own stated positions. And that's because, to Donald, none of this is about policy. It's not about sound economics. It's about greed and the glorification of the great leader.
Well obviously the economy is critical to everything we do and we need to get the economy back in shape, the deficit down, the debt paid off, so that the economy can grow again and grow properly.
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.
What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.
Related Authors
Angela Merkel Quotes
German
Statesman
Bashar al-Assad Quotes
Syrian
Statesman
Colin Powell Quotes
American
Statesman
Condoleezza Rice Quotes
American
Statesman
Edmund Burke Quotes
Irish
Statesman
Fidel Castro Quotes
Cuban
Statesman
Indira Gandhi Quotes
Indian
Statesman
Kofi Annan Quotes
Ghanaian
Statesman
Lucius Annaeus Seneca Quotes
Roman
Statesman
Madeleine Albright Quotes
American
Statesman
Marcus Tullius Cicero Quotes
Roman
Statesman
Napoleon Bonaparte Quotes
French
Statesman
Nelson Mandela Quotes
South African
Statesman
Thabo Mbeki Quotes
South African
Statesman
Tony Blair Quotes
English
Statesman
Winston Churchill Quotes
British
Statesman