Quotes About Deficit

With open markets, the nation's trade deficit with China would shrink as we export more natural gas and agricultural products and as China's consumers could afford to buy their preferred 'Made in America' products.

In 2012, when Ryan spoke those words, federal debt stood at $16 trillion. By 2018 the debt was more than $21 trillion—and climbing, largely because of the spending increases and tax cuts passed by Republicans like Ryan. In 2017 Republicans in Congress approved, on a party-line vote, a tax bill that is projected to add $1.9 trillion to the debt.

So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.

There was a deficit between what I was earning and what my family needed to live off. I was resigned to the fact that, while I may do the odd night, I was going to have to get a proper job.

It is admitted on all sides that we must equalize the revenue and expenditures. The scheme of borrowing to make up an increasing deficit must, in the end, if continued, prove ruinous.

But the debt limit obviously is something that needs to and will be passed. That is not inconsistent with a process and a belief that we have to get significant deficit reduction.

Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.

I was never burdened by the notion that I was working for a political party that was fundamentally hypocritical on the deficit and economy and one that would proceed to impeach Bill Clinton for lying about sex under the leadership of Speaker Newt Gingrich, who was having an affair with a former House intern himself.

The biggest mistake so far," said Rudolph G. Penner, who was the chief economist in the Ford Administration's budget office, "was to urge this tremendous cut in taxes without reducing spending sufficiently. That is a major mistake that will have profound long run costs.

In reality, the Republican Party isn't serious about deficit reduction, because politicians know their voters don't feel affected by the mind-boggling numbers and subsequently don't really care.

Any pretense that the Republican Party, if only given complete control of all three chambers of power, would focus on the deficit was just one of the myths shattered in the first two years of the Trump presidency.

It's insane to try to balance the budget.

was not an economist. So, in thinking about how to solve the problem, I decided to start with the big picture. The root cause of inflation in Brazil was really very simple: The government spent more than it earned. When the budget turned up a big deficit every year, as it inevitably did, the government printed more money to cover the difference. Any grade-school student knows, however, that you can't just print endless amounts of cash without having something tangible to back it up.

The TUC's new slogan 'a future that works' sets a profound challenge. Austerity and rapid deficit reduction is failing in its own terms, but even at its best it is short-sighted, muddle-through politics with no vision of a new economic model.

The whole bloody world's got a commitment problem. It's the three-minute culture. It's a global attention-span deficit.

And so our goal on health care is, if we can get, instead of health care costs going up 6 percent a year, it's going up at the level of inflation, maybe just slightly above inflation, we've made huge progress. And by the way, that is the single most important thing we could do in terms of reducing our deficit. That's why we did it.

We sincerely believed that we don't tax too little in Washington. We spend too much.

Because the government is taking practically every penny of profit that the two companies generate to shrink the federal deficit, Fannie and Freddie have not been allowed to rebuild any capital, which could absorb losses in the event of another downturn in the housing market.

Cohn was astounded at Trump's lack of basic understanding. He tried to explain. If you as the federal government borrow money through issuing bonds, you are increasing the U.S. deficit. What do you mean? Trump asked. Just run the presses—print money.

The individual income tax rates were pegged at 10, 12, 22, 24, 32, 35 and the top rate, 37 percent. The drop from 39.6 percent was standard Republican tax cutting. In the end, the law would add an estimated $1.5 trillion to the annual deficit over 10 years.

Next, Cohn repeated what everyone was saying: Interest rates were going to go up over the foreseeable future. I agree, Trump said. "We should just go borrow a lot of money right now, hold it, and then sell it and make money." Cohn was astounded at Trump's lack of basic understanding. He tried to explain. If you as the federal government borrow money through issuing bonds, you are increasing the U.S. deficit.

If you want our trade deficit to go down, we can make that happen. Let's just blow up the economy!

Addressing governance issues are important because whichever silo you work in, be it education, microfinance, sanitation, food or health, you would eventually hit governance deficit.

We've had years and years and years of compromises, and that's led to $14 trillion in debt.