A Quote by Susana Martinez
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.
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I said we are going to balance an $11 billion budget deficit in a $29 billion budget, so by percentage, the largest budget deficit in America, by percentage, larger than California, larger than New York, larger than Illinois. And we're going to balance that without raising taxes on the people of the state of New Jersey.
We had a $10 billion budget deficit when we got here in January of 2003. We cut that budget deficit; we did not raise taxes; we came back in '05, and we had an $8 billion surplus. That's how fast it can happen.
When my husband was president, we went from a $300 billion deficit to a $200 billion surplus and we were actually on the path to eliminating the national debt. When President Obama came into office, he inherited the worst economic disaster since the Great Depression. He has cut the deficit by two-thirds.
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 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.
When I became mayor of New York City, I had a $2.4 billion deficit. And everybody wanted me to raise taxes. I said, 'If I raise taxes, I'll drive people out of New York City, and then I'll be raising taxes again.' So what I did was I cut expenses by 15 percent.
One of the reasons we don't have our deficit under control is because Republicans are wusses and won't tell their base a simple fact that everyone knows. We can't eliminate the deficit without raising some revenue... They're wusses.
I lowered taxes in New York. I reduced the size of government in New York. I took a $2.4 billion deficit and turned it into a $3.2 billion surplus. And I reduced taxes over 23 times or 23 times.
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.
It's critical to show that we can meet our commitment to students with disabilities without raising taxes and without increasing the deficit. In the past, there's been strong support for full funding and I'm still hearing that from many of my colleagues.
President Obama inherited a one trillion dollar deficit courtesy of George Bush and turned it into a three trillion dollar deficit courtesy of Karl Marx!
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.
With a congressional mandate to run the deficit up as high as need be, there is no reason to raise taxes now and risk aggravating the depression. Instead, Obama will follow the opposite of the Reagan strategy. Reagan cut taxes and increased the deficit so that liberals could not increase spending. Obama will raise spending and increase the deficit so that conservatives cannot cut taxes. And, when the economy is restored, he will raise taxes with impunity, since the only people who will have to pay them would be rich Republicans.
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.
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.
As Indiana's governor, I balanced eight budgets, never raised taxes, and left the largest surplus in state history. It wasn't always easy. Cuts had to be made and some initiatives deferred. Occasionally I had to say 'no.'
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