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.
When President Bush left office, the deficit was approximately $500 billion. It is now approximately now $1.5 trillion. In other words, President Obama has essentially tripled the deficit.
But in the business I had, we invested in over 100 different businesses and net-net, taking out the ones where we lost jobs and those that we added, those businesses have now added over 100,000 jobs.
Mr. Obama denounced the $2.3 trillion added to the national debt on Mr. Bush's watch as 'deficits as far as the eye can see.' But Mr. Obama's budget adds $9.3 trillion to the debt over the next 10 years. What happened to Obama the deficit hawk?
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.
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.
In 2010, you have roughly 38 billion dollars spent by government on cyber and telecoms security and another 60 billion or so by private corporations. So approximately 100 billion dollars spent on security, mostly on technological solutions, which the corporates are offering governments in particular; it's a very high growth area. So everyone is climbing over each other to get the contracts for government procurement on this. There is undoubtedly an element of this and that's what encourages, in part, the whole idea of locking down the Internet.
The great challenge of the 21st century is to provide good standards of living for 7 billion people without depleting the earth's resources or running up massive levels of public debt. To achieve this, government and business alike will need to find new models of growth that are in both environmental and economic balance.
How does one leave Social Security and Medicare untouched, grow defense by more than $50 billion, slash taxes, launch a $1 trillion infrastructure program - and not explode the deficit and national debt?
We can have tax cuts, but when we have tax cuts and do not have a surplus, the amount of the tax cut goes straight to the bottom line, adds to the deficit, and the deficit adds to the national debt, and sooner or later, the debt has to be paid.
Even if I was offered a 100 billion , I still would not join other group . I think it is predestined that we meet and that is more valuable than 100 billion . It is because the 5 of us are forever as one .
I don't believe $25 billion or $50 billion or $100 billion is going to change the way Detroit does business.
The Democrats - Democrats on board, the Congress said tax policy.But their tax policy was pretty bad, that added $800 billion to the deficit.
We have a government that borrows $4 billion a day. We have a government that owes trillions of dollars in debt, half of that to foreigners, most of that to Chinese investors. I don't - that is extreme. Not only is it extreme. It's insane and it's unsustainable.
In the same way that slavery was a moral challenge for the 19th century and totalitarianism was a challenge for the 20th century, the challenge that women and girls face around the world is the moral challenge of our time.
For the last 4 years, our Federal Government has produced the four biggest deficits in history, and the estimated 2006 deficit of $423 billion is projected to be the largest of all.