A Quote by Tony Blair
Examine the legacy that we inherited and what we did. We had boom-and-bust economics and a doubled national debt.
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We inherited a national debt that has doubled in eight years. Think of it - $20 trillion. It's doubled. And we inherited a foreign policy marked by one disaster after another. We don't win anymore. When was the last time we won? Did we win a war? Do we win anything? Do we win anything? We're going to win. We're going to win big, folks. We're going to start winning again, believe me.
The 20th Century approach to economics, resource depletion and over-consumption means we boom and bust until we bust more than we boom; that is precisely what is happening. In a low growth economy, the true meaning of resource efficiency in business and in everything we do is essential
It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve years (1980-1992) under the Republicans. Bill Clinton actually paid down the national debt. How did he do it? He raised taxes. It produced the longest sustained economic expansion in U.S. History.
All markets have boom and bust cycles, and I think venture capital market has even more exaggerated boom and bust cycles.
In 1997, we faced daunting challenges. Boom and bust economics..... Now, for all that remains to be done, dwell for a moment on what has been achieved.
The debt austerity would not be problems if we had technological progress. If you doubled the debt in the U.S., and the size of the economy doubled because of technological progress and growth, the two would roughly cancel out and it would all be a totally manageable situation.
Our approach is to reject the old vicious circle of the '80s-rising debt, higher long-term interest rates, higher debt repayment costs, lower growth, higher unemployment, then enforced cuts in public spending. That was the old boom and bust.
I have younger friends who are in this pinch where they feel they've been counted out before they've had a chance to prove themselves. They've inherited a lot of debt - not just student debt but environmental debt, political debt. They really feel squeezed.
We create these boom-bust cycles by manipulating the money supply and the interest rates and directing it where it went in. And that is what happened with housing: pushed into housing combination of easy money plus all the regulations, and we created this boom-bust cycle, and corruption, because corruption goes with it, because you don't have the same discipline. So we've got to stop all that.
Boom and bust cycles are very difficult for businesses because you're hiring a bunch because you're planning for the future. And if the future is going to be very big, you need to hire people, or suddenly you go to boom to bust, then all of a sudden, you're kind of battening down the hatches and trying to sail, you know, through the storm, it's a different thing. So part of it is making good decisions about, well, how long is a boom cycle going to be, you know, don't plan on it going forever.
I found this national debt, doubled, wrapped in a big bow waiting for me as I stepped into the Oval Office.
I found this national debt doubled, wrapped in a big bow waiting for me as I stepped into the Oval Office.
If I had more recreation time I would be able to step back and reflect on how life has changed. But it has been like a constant... boom, boom, boom, boom, boom!
We have, during his regime, during President Obama's regime, we've doubled our national debt. We're up to $20 trillion.
In falling markets, there is nothing that has not happened before. The bear or pessimist sees only the past, which imprisons the wretched financial soul in eternal circles of boom and bust and boom again.
Sound public finances are the essential foundation on which to construct a better-balanced economy from the wreckage of Labour's boom and bust. But it is economic growth that will create the jobs and the prosperity for the future and enable us to pay down Labour's debt.
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