A Quote by Justin Trudeau
I think growing an economy is a good way to help with a deficit, but ultimately, it's about fiscal discipline and responsible spending - and smart decisions.
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You do what you do - in the circumstances in which you find yourself - because of the way you are. So if you're going to be ultimately responsible for what you do, you're going to have to be ultimately responsible for the way you are - at least in certain mental respects. But you can't be ultimately responsible for the way you are (for the reasons just given). So you can't be ultimately responsible for what you do.
Spending and tax cut decisions must be both fiscally responsible and fair to our working families. I believe that fiscal responsibility is the way to create prosperity for America and secure the retirement of America's seniors.
Now fiscal responsibility is generally a good thing, and so a centrism mindlessly focused on tweaking legislation away from deficit spending has its uses.
I am specifically concerned about the idea that the legislative process is one that gets characterized the way it is as the 'fiscal cliff.' At the end of the day, the United States is the biggest economy in the world, and the dollar is the reserve currency in the world. I think it behooves us to act in a much more responsible way.
Instead of the primitive raw material economy, we will create a smart economy generating unique knowledge, new useful things and technologies. Instead of the archaic society, in which the leaders think and make decisions for everyone, we will become a country of intelligent, free and responsible people.
The Keynesian idea is once again accepted that fiscal policy and deficit spending has a major role to play in guiding a market economy. I wish Friedman were still alive so he could witness how his extremism led to the defeat of his own ideas.
Various economists and experts had suggested increasing government spending to fight COVID-19, to help the poor survive. On the other hand, businesses were helped so that the jobs are protected. As a result, the fiscal deficit may look slightly high.
We should reduce total government spending as a percentage of the economy. The left wants to focus on the deficit so they can take us away from the focus on spending as a percentage of the economy.
We think we can't survive without deficit spending - but we soon won't be able to survive with deficit spending, either.
The right way to deal with a budget problem that was years in the making is by formulating a credible plan to reduce the deficit over time and as the economy is able to withstand the necessary fiscal belt-tightening. That is what President Obama is doing.
First of all, I don't like to speak about austerity. I'd prefer to speak of fiscal discipline. Fiscal discipline, in the end, amounts to austerity if it is not accompanied by other policies.
The administration's reckless plan doesn't do one thing to ensure the long term security of social security, rather it undermines our economy. We need a budget and a fiscal policy that reflects the values and interests of America and restores fiscal discipline.
When you look at February's (2011) deficit spending alone, and the fact that it was larger than what our total deficit spending was in 2007, the proposals that the Senate is sending us simply are ridiculous, because it's not even a solution. It doesn't address the amount of spending that we have in a week's time. We need to get serious.
Fiscal discipline can turn the economy around.
The way I've always governed my life as far as fiscal policy goes is I'm smart enough to know that I'm dumb about it, so I surround myself with smart people in much the same way a hole surrounds itself with a doughnut. I just pay things off. That's all I do.
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.
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