A Quote by Timothy Geithner
The government can help, but we need to make this transition now to a recovery led by private investment.
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The government can help, but we need to make this transition now to a recovery led by private investment, private.
Government investment unlocks a huge amount of private sector activity, but the basic research that we put into IT work that led to the Internet and lots of great companies and jobs, the basic work we put into the health care sector, where it's over $30 billion a year in R&D that led the biotech and pharma jobs. And it creates jobs and it creates new technologies that will be productized. But the government has to prime the pump here. The basic ideas, as in those other industries, start with government investment.
After a disaster such as Hurricane Katrina, the federal government has a profound obligation to help those in need, .. Right now, the victims of Hurricane Katrina need our help. Entire communities have been destroyed. Families have been torn apart. Many are still missing. Tens of thousands remain homeless. As the recovery proceeds, we in the Senate pledge to do everything in our power to help rebuild the shattered lives across the Gulf Coast.
In World War II, the government went to the private sector. The government asked the private sector for help in doing things that the government could not do. The private sector complied. That is what I am suggesting.
What people that are professionals in the art world - both in literature and the other arts - always try to do is to recognize the feasibility of making the transition from the particular to the general - to make the transition from the portrait of one postman - to take Van Gogh, for example, to something that is every postman. That synecdotal transition that most selfies don't make. But we who live in this world, and not simply in our private realities, understand that that's the transition our art has to make.
Government-to-government aid rests on socialistic assumptions and promotes socialism and stagnation, whereas private foreign investment rest on capitalist assumptions and promotes private enterprise and maximum economic growth.
If you want to slow medical inflation in the private sector, it makes sense to expand the government's investment in private health care.
Government-to-government foreign aid promotes statism, centralized planning, socialism, dependence, pauperization, inefficiency, and waste. It prolongs the poverty it is designed to cure. Voluntary private investment in private enterprise, on the other hand, promotes capitalism, production, independence, and self-reliance.
We need the private sector's help, because government is not innovating. Technology is running ahead by leaps and bound. The private sector will help, just as I helped after 9/11. But they must be engaged, and they must be asked. I will ask them. I know them.
If you look at the fact that the best chance we have for a good economy is the private sector. The government cannot create jobs. If the government could create jobs, then Communism would have worked. But didn't work. So what we have to do is allow the private sector and the entrepreneurial spirit to lead us back to a job-filled recovery.
It's not coincidental that America's vigorous recovery in the early 1980s was led by a president who worked hard to unshackle growth in the private sector.
We need to make investment to get the economy going again, to give the private sector the confidence.
Think in the name of Almighty God. We must first have a worldwide awakening of the public conscience, a spiritual revival, a moral regeneration, before there can be permanent peace and real economic recovery. To this end we do not need new laws, but a new spirit; we do not need a change of government, but a change of the human heart. There can be no peace, there will be no recovery without it. Therefore, with a change of heart, let's all make a new start.
Canadians expect their government to make sure we're helping the people who need the help and growing the economy, and that's exactly what we're committed to do, not just with our historic investments into infrastructure that are going to create jobs while the others are focusing on cuts, but by lowering payroll taxes, by lowering EI premiums from $1.88 to $1.65, at the same time as we make sure that the people who need help are getting the help that they paid into, because they're not getting it under Stephen Harper. That's what Canadians expect from their government.
Just like I gave Jack Ma and Alibaba the luxury of staying private for longer, I am now giving Arm the gift of being private. My only message to them now is take my investment and let's go, go, go.
There's a need for accepting responsibility - for a person's life and making choices that are not just ones for immediate short-term comfort. You need to make an investment, and the investment is in health and education.
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