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Social Security is not just another government spending program. It is a promise from generation to generation.
Oct 2, 2025
If we don't get a grip on government spending, there will be no growth.
..either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation. Once we look at the matter. In this way, the supposed miracles of government spending will appear in another light.
When they call the slightest spending reductions 'painful', we will say 'If government spending prevents pain, why are we suffering so much of it?' And 'If you want to experience real pain, just stay on the track we are on.'
The difference between them and us is that we want to check government spending and they want to spend government checks.
Government spending is taxation. When you look at this, I've never heard of a poor person spending himself into prosperity; let alone I've never heard of a poor person taxing himself into prosperity.
In a very weak economy, when you say 'cut government spending,' what you mean is you're laying off school teachers and you're de-funding various programs that put money into the economy. This means you have more unemployed people that then draw unemployment benefits and don't pay taxes.
However little president Obama knows or cares about economics, he knows a lot about politics - and especially political rhetoric. 'High-speed rail' is simply another set of loft words to justify continued expansion of government spending. So are words like 'investment in education' or 'investment' in any number of other things, which serves the same political purpose.
Government spending? I don't know what it's all about. I don't know any more about this thing than an economist does, and, God knows, he doesn't know much.
State capitalism is about more than emergency government spending, implementation of more intelligent regulation, or a stronger social safety net. It's about state dominance of economic activity for political gain.
It is a popular delusion that the government wastes vast amounts of money through inefficiency and sloth. Enormous effort and elaborate planning are required to waste this much money.
The goal is to reduce the size and scope of government spending, not to focus on the deficit. The deficit is the symptom of the disease.
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.
The truth is, the greatest tool to lift children and families from poverty is one that decreases the probability of child poverty by 82%. But it isn't a government spending program. It's called marriage.
I believed the only thing that could turn around this government spending and mounting debt would be if the people rose up.
I regret, as much as any member, the unavoidable weight and duration of the burdens to be imposed; having never been a proselyte to the doctrine, that public debts are public benefits. I consider them, on the contrary, as evils which ought to be removed as fast as honor and justice will permit.
The greatest danger facing our nation isn't terrorism, global warming or the energy crisis. It is out-of-control, unbridled government spending.
The corporations that profit from permanent war need us to be afraid. Fear stops us from objecting to government spending on a bloated military. Fear means we will not ask unpleasant questions of those in power. Fear permits the government to operate in secret. Fear means we are willing to give up our rights and liberties for promises of security. The imposition of fear ensures that the corporations that wrecked the country cannot be challenged. Fear keeps us penned in like livestock.
You have to have a government to provide you with legal order, with stability, enforcement of property rights, enforcement of contracts, definition of rules and regulations - the rules of the game, so to speak - and to provide certain shared goods and services, public services. Several people have tried to estimate this and they come out with figures like government spending at 15% of GDP. In the modern world it has gone to 40% or above. So we are way beyond the optimal, and that is easier to say than what the optimum is.
Charity is no part of the legislative duty of the government.
The reality is the most important thing that can be done are these permanent changes like to the tax code, reduction of government spending. These are the things that pop up in economy and move it in the right direction, start to make it an economy that is moving because of the money in the private economy. When you think about it, when the Fed is lowering an interest rate, what it's doing is it's creating more liquidity. It's putting more money into the economy. The same thing happens when you reduce the tax except if happens from physical policy.
I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.
We must have no carelessness in our dealings with public property or the expenditure of public money. Such a condition is characteristic either of an undeveloped people, or of a decadent civilization. America is neither.
We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists, and in so far as it ever did exist, it only worked on each occasion since the war by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step.
To win in November, Republican candidates must show they are in touch with voter concerns about growth, jobs, paychecks, government spending and debt. The only way to do this is by offering specific, persuasive ideas.
John Kerry's newfound interest in fiscal discipline is a political gimmick that defies his 20-year record in the Senate and stands in stark contrast to his reckless and expansive promises of new government spending on the campaign trail.
Government spending is always a “tax” burden on the American people and is never equally or fairly distributed. The poor and low-middle income workers always suffer the most from the deceitful tax of inflation and borrowing.
Whether government finances its added spending by increasing taxes, by borrowing, or by inflating the currency, the added spending will be offset by reduced private spending. Furthermore, private spending is generally more efficient than the government spending that would replace it because people act more carefully when they spend their own money than when they spend other people's money.
If increased government spending with borrowed or newly created money is a 'stimulus,' then the Weimar Republic should have been stimulated to unprecedented prosperity, instead of runaway inflation and widespread economic desperation that ultimately brought Adolf Hitler to power.
The big problem for a democratic government - democrat with a small "d" - is how to hold down government spending.
The story of Detroit's bankruptcy was simple enough: Allow capitalism to grow the city, campaign against income inequality, tax the job creators until they flee, increase government spending in order to boost employment, promise generous pension plans to keep people voting for failure. Rinse, wash and repeat.
Unemployment, foreclosures, bankruptcy - the cure is not more government spending, but helping businesses create jobs.
You're having government spending on the economy being cut almost everywhere. That means that the only source of spending for growth has to come from borrowing from the banking system.
After the $700 billion bailout, the trillion-dollar stimulus, and the massive budget bill with over 9,000 earmarks, many of you implored Washington to please stop spending money that we don't have. But instead of cutting, we saw an unprecedented explosion of government spending and debt. It was unlike anything we've ever seen before in the history of the country.
I do not intend to dispute in any way the need for defence cuts and the need for government spending cuts in general. I do not share a not in my backyard approach to government spending reductions.
Past experience with fiscal austerity at home and overseas strongly suggests that it is best for the economy's long-run performance to restrain government spending rather than raise taxes.
I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.
The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.
This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.
Every gun that is made, every warship launched, every rocket fired signifies in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children. This is not a way of life at all in any true sense. Under the clouds of war, it is humanity hanging on a cross of iron.
Government is not a solution to our problem government is the problem.
But public works, economic protectionism, cheap money, "deficit-financed government spending," and "the animal spirits of the spendthrift in the service of boosting "consumption demand"... Doesn't Keynesianism simply appeal to the worst in human nature?
The largest tax reduction in American history, one page tax form, reducing government spending. Those are all the keys to economic progress.
Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.
MoveOn loves government. It remains enamored of government spending as fuel for its liberal agenda; and anything that threatens to close that spigot in any degree is perceived as a dire threat - worthy of Chicken-Little warnings that the sky is going to fall.
Obama has paid and will continue to pay dearly for betting on his stimulus package. Because of it, the Bush recession is becoming the Obama recession much faster than it would have had he adopted a more gradual approach to solving economic problems. By jumping in immediately, as he did, in order to increase government spending and pass eight years of Democratic dreams in one day, he made the public expect a solution.
Many conservatives were openly angry with the Bush administration over enormous government spending and the chaos in Iraq. I don't see as much independent thinking on the left, where President Obama is rarely criticized by his acolytes.
Who knew, in 2000, that compassionate conservatism meant bigger government, unrestricted government spending, government intrusion in personal matters, government ineptitude, and cronyism in disaster relief? Who knew, in 2000, that the only bill the president would veto, six years later, would be one on funding stem-cell research? A more accurate term for Mr. Bush's political philosophy might be incontinent conservatism.
When you start cutting government expenditure, at some point you are cutting essential services rather than excessive services. So you have to take into account the social costs involved in cutting government spending.
Credit expansion is the governments' foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods, to lower the rate of interest or to abolish it altogether, to finance lavish government spending, to expropriate the capitalists, to contrive everlasting booms, and to make everybody prosperous.