Selected economy quotes

1. We stand for the maintenance of private property... We shall protect free enterprise as the most expedient, or rather the sole possible economic order.

2. I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals.

3. Nevertheless, it is necessary to remember that a planned economy is not yet socialism. A planned economy as such may be accompanied by the complete enslavement of the individual. The achievement of socialism requires the solution of some extremely difficult socio-political problems: how is it possible, in view of the far-reaching centralisation of political and economic power, to prevent bureaucracy from becoming all-powerful and overweening? How can the rights of the individual be protected and therewith a democratic counterweight to the power of bureaucracy be assured?

4. The wisdom of man never yet contrived a system of taxation that would operate with perfect equality.

5. This island is made mainly of coal and surrounded by fish. Only an organizing genius could produce a shortage of coal and fish at the same time.

6. The language of priorities is the religion of socialism.

7. Freedom is the by-product of economic surplus.

8. Take away from English authors their copyrights, and you would very soon take away from England her authors.

9. As I think through the issue of funding the rebuilding of Iraq, I think about the analogy of a bankruptcy proceeding. There is no doubt that Iraq as a country is bankrupt.

10. Today the Internal Revenue Code constitutes cruel and unusual punishment. A flat tax would be an enormous step forward.

11. A world where nothing is had for nothing.

12. Don't be seduced into thinking that that which does not make a profit is without value.

13. I believe the stars can affect human lives, particularly by providing employment for thousands of astrologers.

14. It's going to be really interesting to see what the heroin market does in the next two years or so. One thing you can be pretty sure of. The Afghan peasants who grow poppies won't get rich. The money will end up in places like Dubai.

15. Experience has shown that the trade of the East is the key to national wealth and influence.

16. The enormous dynamic and creative, as well as destructive energy of capitalism... is written up with more praise and more respect by Marx and Engels in the 1848 Communist Manifesto than probably by anyone since. I don't think anyone has ever said so precisely and with such awed admiration how great capitalism is, how inventive, how innovative, how dynamic, how much force of creativity it unleashes.

17. The growth of entrepreneurial classes throughout the world is an asset in the promotion of human rights and individual liberty, and it should be understood and used as such. Yet peace is the first and most important condition for continued prosperity and freedom. America's military power must be secure because the United States is the only guarantor of global peace and stability. The current neglect of America's armed forces threatens its ability to maintain peace.

18. Successful people are the ones who think up things for the rest of the world to keep busy at.

19. Storytelling and elegant style don't always go hand in hand.

20. I hate banks. They do nothing positive for anybody except take care of themselves. They're first in with their fees and first out when there's trouble.

21. Mere parsimony is not economy. Expense, and great expense, may be an essential part in true economy.

22. Economy is a distributive virtue, and consists not in saving but selection. Parsimony requires no providence, no sagacity, no powers of combination, no comparison, no judgment.

23. Growth for the sake of growth is the ideology of the cancer cell.

24. An American credit card...is just as good in Europe as American gold used to be.

25. Human resources are the most valuable assets the world has. They are all needed desperately.

26. The drug war has nothing to do with making communities livable or creating a decent future for black kids. On the contrary, prohibition is directly responsible for the power of crack dealers to terrorize whole neighborhoods. And every cent spent on the cops, investigators, bureaucrats, courts, jails, weapons, and tests required to feed the drug-war machine is a cent not spent on reversing the social policies that have destroyed the cities, nourished racism, and laid the groundwork for crack culture.

27. If we want to save our planet earth, we have a duty to put an end to the capitalist system.

28. They talk about the failure of socialism but where is the success of capitalism in Africa, Asia and Latin America?

29. The revenues of Cuban state-run companies are used exclusively for the benefit of the people, to whom they belong.

30. Art, industry, and commerce, so long crushed and overborne, were stirring into renewed life, and a crowd of adventurous men, nurtured in war and incapable of repose, must seek employment for their restless energies in fields of peaceful enterprise.

31. Were the Soviet Union to sink tomorrow under the waters of the ocean, the American military-industrial establishment would have to go on, substantially unchanged, until some other adversary could be invented. Anything else would be an unacceptable shock to the American economy.

32. Human beings were behaving as human beings and not as cogs in the capitalist machine.

33. The global crisis is caused by pathologies inherent in the global financial system itself.

34. Not over my dead body will they raise your taxes.

35. I aim to be a competitive nation.

36. The case for trade is not just monetary, but moral. Economic freedom creates habits of liberty. And habits of liberty create expectations of democracy.

37. A people... who are possessed of the spirit of commerce, who see and who will pursue their advantages may achieve almost anything.

38. I know of no pursuit in which more real and important services can be rendered to any country than by improving its agriculture, its breed of useful animals, and other branches of a husbandman's cares.

39. To accept capitalism and Free Enterprise as articles of faith without agreeing that we must be free to consider whether what is offered is free and freeing is itself enslavement.

40. What the insurance companies have done is to reverse the business so that the public at large insures the insurance companies.

41. Sugar is gone; silk has gone; iron is threatened; wool is threatened; cotton will go! How long are you going to stand it? At the present moment these industries...are like sheep in a field.

42. We study and take as an example the Soviet system, but we are developing socialism in our country in somewhat different forms.

43. Some day no one will have to work more than two days a week... The human being can consume so much and no more. When we reach the point when the world produces all the goods that it needs in two days, as it inevitably will, we must curtail our production of goods and turn our attention to the great problem of what to do with our new leisure.

44. While control is needed, and perfectly warranted, our bias should be clear up front: Monopolies are not justified by theory; they should be permitted only when justified by facts. If there is no solid basis for extending a certain monopoly protection, then we should not extend that protection. This does not mean that every copyright must prove its value initially. That would be a far too cumbersome system of control. But it does mean that every system or category of copyright or patent should prove its worth. Before the monopoly should be permitted, there must be reason to believe it will do some good - for society, and not just for monopoly holders.

45. We've had enough generals (an allusion to dictatorial ruler general Jaruzelski). What Poland needs most are the American generals: General Motors, General Electric, and General Dynamics.

46. I was fired from my television job, simple as that. Well, downsized, really, a classic 1990s situation.

47. Free trade favors all classes, excites all imaginations, and rouses the whole population; it is identical with equality, and tends naturally to independence.

48. It is in the workshops of the country that the most successful war is waged against an enemy, at least it does not cost a drop of its people's blood.

49. Tomorrow, the entire ANC leadership and I will be back at our desks. We are rolling up our sleeves to begin tackling the problems our country faces. We ask you all to join us - go back to your jobs in the morning. Let's get South Africa working. For we must, together and without delay, begin to build a better life for all South Africans. This means creating jobs building houses, providing education and bringing peace and security for all.

50. The sight of wounded and whipped Zulus, mercilessly abandoned by their British persecutors, so appalled him that he turned full circle from his admiration for all things British to celebrating the indigenous and ethnic. He resuscitated the culture of the colonized and the fullness of Indian resistance against the British; he revived Indian handicrafts and made these into an economic weapon against the colonizer in his call for swadeshi - the use of one's own and the boycott of the oppressor's products, which deprive the people of their skills and their capital.

51. As we find ourselves in jobless economies, societies in which small minorities consume while the masses starve, we find ourselves forced to rethink the rationale of our current globalization and to ponder the Gandhian alternative. At a time when Freud was liberating sex, Gandhi was reining it in; when Marx was pitting worker against capitalist, Gandhi was reconciling them; when the dominant European thought had dropped God and soul out of the social reckoning, he was centralizing society in God and soul; at a time when the colonized had ceased to think and control, he dared to think and control; and when the ideologies of the colonized had virtually disappeared, he revived them and empowered them with a potency that liberated and redeemed.

52. The acid test of monetary policy is its record in reducing inflation. Those who wish to join the debate about the intricacies of different measures of money and the implications they may have for the future are welcome to do so. But at the end of the day the position is clear and unambiguous. The inflation rate is judge and jury.

53. Nothing could be further from the truth than the claim that we have a choice between cutting tax and cutting unemployment, for the two go hand in hand.

54. The fears of recession in the aftermath of Black Monday have turned to fears of the economy racing ahead too fast, with inflation edging up and a substantial current account deficit...people understandably feel more confident about their future than they've done for decades, but as a result they have been borrowing more and saving less...coming on top of a massive income investment boom, it's all been just a bit too much of a good thing.

55. Nowadays we are all of us so hard up that the only pleasant things to pay are compliments. They're the only things we can pay.

56. If this Government cannot get the adjustment, get manufacturing going again, and keep moderate wage outcomes and a sensible economic policy, then Australia is basically done for. We will end up being a third rate economy... a banana republic.

57. We will not adopt the fantastic hypocrisy of modern conservatism which preaches the values of families and communities, while conducting a direct assault on them through reduced wages and conditions and job security.

58. [Australian Reserve Bank] Governor MacFarlane said recently when Paul Volcker broke the back of American inflation it's regarded as the policy triumph of the Western world. When I broke the back of Australian inflation they say, 'Oh, you're the fellow that put the interest rates up.' Am I not the same fellow that gave them the 15 years of good growth and high wealth that came from it?

59. The accounts do show that Australia is in a recession. The most important thing about that is, is that this is the recession that Australia had to have.

60. Above and beyond the question of how to grow the economy there is a legitimate concern about how to grow the quality of our lives.

61. 'When we leave out people on the grounds of ethnicity we limit our options. As such, we become poorer because we are not making optimum use of our human resources, thereby depriving us of the returns and full benefit of our capabilities.'

62. Out of the beliefs nourished by the agrarian myth there had arisen the notion that the city was a parasitical growth on the country. Bryan spoke for a people raised for generations on the idea that the farmer was a very special creature, blessed by God, and that in a country consisting largely of farmers the voice of the farmer was the voice of democracy and of virtue itself. The agrarian myth encouraged farmers to believe that they were not themselves an organic part of the whole order of business enterprise and speculation that flourished in the city, partaking of its character and sharing in its risks, but rather the innocent pastoral victims of a conspiracy hatched in the distance. The notion of an innocent and victimized populace colors the whole history of agrarian controversy, and indeed the whole history of the populistic mind.

63. The American farmer, whose holdings were not so extensive as those of the grandee nor so tiny as those of the peasant, whose psychology was Protestant and bourgeois, and whose politics were petty-capitalist rather than traditionalist, had no reason to share the social outlook of the rural classes of Europe. In Europe land was limited and dear, while labor was abundant and relatively cheap; in America the ratio between land and labor was inverted.

64. The utopia of the Populists was in the past, not in the future. According to the agrarian myth, the health of the state was proportionate to the degree to which it was dominated by the agricultural class, and this assumption pointed to the superiority of an earlier age.

65. 'Iraq is a very wealthy country. Enourmous oil reserves. They can finance, largely finance the reconstruction of their own country. And I have no doubt they will.'

66. The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.

67. It really doesn't matter whether I'm right or wrong: the war is going to end because we're gonna have such a political and financial havoc here with the devaluation of our dollar, because we just can't keep affording it. This is usually how empires end, by spending too much money maintaining their empire. We're in 130 countries, we have 700 bases around the world, and it's going to come to an end. I want it to come to an end more gracefully and peacefully, follow the constitution, and follow a more sensible foreign policy.

68. When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans. Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.

69. I mean this is all seriousness, Ron Paul [is my pro-stock market candidate].

70. I think that marijuana should not only be legal, I think it should be a cottage industry. It would be wonderful for the state of Maine. There's some pretty good homegrown dope. I'm sure it would be even better if you could grow it with fertilizers and have greenhouses.

71. If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good also. The difference between the bond and the bill is the bond lets money brokers collect twice the amount of the bond and an additional 20%, where as the currency pays nobody but those who contribute directly in some useful way. It is absurd to say our country can issue $30 million in bonds and not $30 million in currency. Both are promises to pay, but one promise fattens the userers and the other helps the people.

72. I am a Socialist not through reading a textbook that has caught my intellectual fancy, nor through unthinking tradition, but because I believe that, at its best, Socialism corresponds most closely to an existence that is both rational and moral. It stands for co-operation, not confrontation; for fellowship, not fear. It stands for equality, not because it wants people to be the same but because only through equality in our economic circumstances can our individuality develop properly.

73. We have no plans to increase tax at all.

74. I can stand here today, leader of the Labour Party, Prime Minister, and say to the British people: you have never had it so ... prudent.

75. Sir Michael Spicer: What are the characteristics of old Labour that he dislikes so much? Tony Blair: I am afraid that the Hon. Gentleman will have to repeat that. Sir Michael Spicer: What are the characteristics of old Labour that he dislikes so much? Tony Blair: Basically, that it never won two successive terms of Government and, perhaps, that it never put the Conservative party flat on its back, which is where it is now. Thankfully, we are running an economy with low inflation, low mortgage rates and low unemployment; fortunately, we are doing a darn sight better than the Government of whom the right hon. Gentleman was a Member, who had-I thank him for allowing me to mention this-interest rates at 10 per cent. for four years, 3 million unemployed and two recessions. Whether it is old Labour or new Labour, it is a darn sight better than the Tories.

76. The private control of credit is the modern form of slavery.

77. Our country is not flourishing. The enormous creative and spiritual potential of our nations is not being used sensibly. Entire branches of industry are producing goods that are of no interest to anyone, while we are lacking the things we need. A state which calls itself a workers' state humiliates and exploits workers. Our obsolete economy is wasting the little energy we have available.

78. What we prize most is peace and an opportunity to devote all our efforts to restoring our economy.

79. Political institutions are a superstructure resting on an economic foundation. The Three Sources and Three Constituent Parts of Marxism (1913)

80. [In 2000] Vladimir Putin had the intelligence, energy and stamina the country needed to get Russia's economy on track and handle its complicated politics.

81. Without competition we would be clinging to the clumsy antiquated processes of farming and manufacture and the methods of business of long ago, and the twentieth would be no further advanced than the eighteenth century.

82. A tolerable expertness in military movements is a business that requires time and practice. It is not a day, or even a week, that will suffice for the attainment of it. To oblige the great body of the yeomanry, and of the other classes of the citizens, to be under arms for the purpose of going through military exercises and evolutions, as often as might be necessary to acquire the degree of perfection which would entitle them to the character of a well-regulated militia, would be a real grievance to the people, and a serious public inconvenience and loss. It would form an annual deduction from the productive labor of the country, to an amount which, calculating upon the present numbers of the people, would not fall far short of the whole expense of the civil establishments of all the States. To attempt a thing which would abridge the mass of labor and industry to so considerable an extent, would be unwise: and the experiment, if made, could not succeed, because it would not long be endured. Little more can reasonably be aimed at, with respect to the people at large, than to have them properly armed and equipped; and in order to see that this be not neglected, it will be necessary to assemble them once or twice in the course of a year.

83. Most Americans have no real understanding of the operations of the international moneylenders... the accounts of the Federal Reserve have never been audited. It operates outside the control of Congress and ... manipulates the credit of the United States

84. You are suffering from the unrestricted imports of cheaper goods. You are suffering also from the unrestricted immigration of the people who make these goods...The evils of this immigration have increased during recent years. And behind those people who have already reached these shores, remember there are millions of the same kind who, under easily conceivable circumstances, might follow in their track, and might invade this country in a way and to an extent of which few people have at present any conception...But the party of free importers is against any reform. How could they be otherwise? They are perfectly consistent. If sweated goods are to be allowed in this country without restriction, why not the people who make them? Where is the difference? There is no difference either in the principle or in the results. It all comes to the same thing - less labour for the British working man.

85. While early American society was an agrarian society, it was fast becoming more commercial, and commercial goals made their way among its agricultural classes almost as rapidly as elsewhere. The more commercial society became, however, the more reason it found to cling in imagination to the noncommercial agrarian values. The more farming as a self-sufficient way of life was abandoned for farming as a business, the more merit men found in what was being left behind. And the more rapidly the farmers' sons moved into the towns, the more nostalgic the whole culture became about its rural past. The American mind was raised upon a sentimental attachment to rural living and upon a series of notions about rural people and rural life that I have chosen to designate as the agrarian myth. The agrarian myth represents a kind of homage that Americans have paid to the fancied innocence of their origins. Like any complex of ideas, the agrarian myth cannot be defined in a phrase, but its component themes form a clear pattern. Its hero was the yeoman farmer, its central conception the notion that he is the ideal man and the ideal citizen.

86. The long-range trend toward federal regulation, which found its beginnings in the Interstate Commerce Act of 1887 and the Sherman Act of 1890, which was quickened by a large number of measures in the Progressive era, and which has found its consummation in our time, was thus at first the response of a predominantly individualistic public to the uncontrolled and starkly original collectivism of big business. In America the growth of the national state and its regulative power has never been accepted with complacency by any large part of the middle-class public, which has not relaxed its suspicion of authority, and which even now gives repeated evidence of its intense dislike of statism. In our time this growth has been possible only under the stress of great national emergencies, domestic or military, and even then only in the face of continuous resistance from a substantial part of the public. In the Progressive era it was possible only because of widespread and urgent fear of business consolidation and private business authority. Since it has become common in recent years for ideologists of the extreme right to portray the growth of statism as the result of a sinister conspiracy of collectivists inspired by foreign ideologies, it is perhaps worth emphasizing that the first important steps toward the modern organization of society were taken by arch-individualists - the tycoons of the Gilded Age - and that the primitive beginning of modern statism was largely the work of men who were trying to save what they could of the eminently native Yankee values of individualism and enterprise.

87. I will recall once more Russia's most recent history. Above all, we should acknowledge that the collapse of the Soviet Union was a major geopolitical disaster of the century. As for the Russian nation, it became a genuine drama. Tens of millions of our co-citizens and compatriots found themselves outside Russian territory. Moreover, the epidemic of disintegration infected Russia itself. Individual savings were depreciated, and old ideals destroyed. Many institutions were disbanded or reformed carelessly. Terrorist intervention and the Khasavyurt capitulation that followed damaged the country's integrity. Oligarchic groups - possessing absolute control over information channels - served exclusively their own corporate interests. Mass poverty began to be seen as the norm. And all this was happening against the backdrop of a dramatic economic downturn, unstable finances, and the paralysis of the social sphere. Many thought or seemed to think at the time that our young democracy was not a continuation of Russian statehood, but its ultimate collapse, the prolonged agony of the Soviet system. But they were mistaken. That was precisely the period when the significant developments took place in Russia. Our society was generating not only the energy of self-preservation, but also the will for a new and free life.

88. I think there are things of which I and the people who have worked with me can feel deservedly proud. They include restoring Russia's territorial integrity, strengthening the state, progress towards establishing a multiparty system, strengthening the parliamentary system, restoring the Armed Forces' potential and, of course, developing the economy. As you know, our economy has been growing by 6.9 percent a year on average over this time, and our GDP has increased by 7.7 percent over the first four months of this year alone. When I began my work in the year 2000, 30 percent of our population was living below the poverty line. There has been a two-fold drop in the number of people living below the poverty line since then and the figure today is around 15 percent. By 2009-2010, we will bring this figure down to 10 percent, and this will bring us in line with the European average. We had enormous debts, simply catastrophic for our economy, but we have paid them off in full now. Not only have we paid our debts, but we now have the best foreign debt to GDP ratio in Europe. Our gold and currency reserve figures are well known: in 2000, they stood at just $12 billion and we had a debt of more than 100 percent of GDP, but now we have the third-biggest gold and currency reserves in the world and they have increased by $90 billion over the first four months of this year alone. During the 1990s and even in 2000-2001, we had massive capital flight from Russia with $15 billion, $20 billion or $25 billion leaving the country every year. Last year we reversed this situation for the first time and had capital inflow of $41 billion. We have already had capital inflow of $40 billion over the first four months of this year. Russia's stock market capitalisation showed immense growth last year and increased by more than 50 percent. This is one of the best results in the world, perhaps even the best. Our economy was near the bottom of the list of world economies in terms of size but today it has climbed to ninth place and in some areas has even overtaken some of the other G8 countries' economies. This means that today we are able to tackle social problems. Real incomes are growing by around 12 percent a year. Real income growth over the first four months of this year came to just over 18 percent, while wages rose by 11-12 percent. Looking at the problems we have yet to resolve, one of the biggest is the huge income gap between the people at the top and the bottom of the scale. Combating poverty is obviously one of our top priorities in the immediate term and we still have to do a lot to improve our pension system too because the correlation between pensions and the average wage is still lower here than in Europe. The gap between incomes at the top and bottom end of the scale is still high here - a 15.6-15.7-fold difference. This is less than in the United States today (they have a figure of 15.9) but more than in the UK or Italy (where they have 13.6-13.7). But this remains a big gap for us and fighting poverty is one of our biggest priorities.

89. No one, I think, can deny that the depression of the agricultural interest is excessive. Though I can recall periods of suffering, none of them have ever equalled the present in its instances. Let us consider the principle causes of this distress. My noble friend who has addressed you has very properly touched upon the subject and upon the effect of the continuous bad harvests in this country...It is, however, true that at that time the loss and suffering were not recognized as they were in the old days, when the system of protection existed, because the price of the food of the people was not immediately affected by a bad harvest, and it was not till the repetition of the misfortune on two occasions that the diminution of the wealth of the country began to be severely felt by the people generally. The remarkable feature of the present agricultural depression is this-that the agricultural interest is suffering from a succession of bad harvest, accompanied, for the first time, by extremely low prices. That is a remarkable circumstance that has never before occurred-a combination that has never before been encountered. In old days, when we had a bad harvest we had also the somewhat dismal compensation of higher prices; but now, when the harvests are bad the prices are lower rather than higher...nor is it open to doubt that foreign competition has exercised a most injurious influence on the agricultural interests of the country. The country, however, was perfectly warned that if we made a great revolution in our industrial system, that was one of the consequences that would accrue. I may mention that the great result of the returns we possess is this, that the immense importations of foreign agricultural produce have been vastly in excess of what the increased demands of our population actually require, and that is why the low prices are maintained...That is to a great degree the cause of this depression.

90. It cannot be denied that a state of great national prosperity is quite consistent and compatible with legislation in favour of the protection of native industry. That proposition, years ago, was denied; but with the experience we have had of France and the United States of America-the two most flourishing communities probably in existence-it is now incontestable. Well, my lords, many years ago-nearly 40-this country, which no one can say for a moment did not flourish with the old system of protection, deemed it necessary to revise the principles upon which its commerce was conducted...The scheme that was adopted was this-that we were to fight hostile tariffs with free imports. I was among those who looked upon that policy with fear. I believed it to be one very perilous. ...reciprocity is barter. I always understood that barter was the last effort of civilization that it was exactly that state of human exchange that separated civilization from savagery; and if reciprocity is only barter, I fear that would hardly help us out of our difficulty. My noble friend read some extracts from the speeches of those who had the misfortune to be in Parliament at that time, and he honoured me by reading an extract from the speech I then made in the other House of Parliament. That was a speech in favour of reciprocity, and indicated the means by which reciprocity could be obtained. That is to say-I do not want to enter into the discussion whether the principle was right or wrong, but it was acknowledged in public life, favoured and pursued by many statesmen who conceived that by the negotiation of a treaty of commerce, by reciprocal exchange and the lowering of duties, the products of the two negotiating countries would find a freer access and consumption in the two countries than they formerly possessed. But when he taunts me with his quotation of some musty phrases of mine 40 years ago, I must remind him that we had elements then on which treaties of reciprocity could be negotiated. At that time, although the great changes of Sir Robert Peel had taken place, there were 168 articles in the tariff which were materials by which you could have negotiated, if that was a wise and desirable policy, commercial treaties of reciprocity. What is the number you now have in the tariff? Twenty-two. Those who talk of negotiating treaties of reciprocity...have they the materials for negotiating treaties of reciprocity? You have lost the opportunity. I do not want to enter into the argument at the present moment; but England cannot pursue that policy.

91. Tax revenues are up 59 percent since 1980. Because of our economic growth? No. During Carter's four years, we had growth of 37.2 percent; Reagan's five years have given us 30.7 percent. The new revenues are due to four giant Republican tax increases since 1981. All republicans rightly chastised Carter for his $38 billion deficit. But they ignore or even defend deficits of $220 billion, as government spending has grown 10.4 percent per year since Reagan took office, while the federal payroll has zoomed by a quarter of a million bureaucrats... big government has been legitimized in a way the Democrats never could have accomplished. It was tragic to listen to Ronald Reagan on the 1986 campaign trail bragging about his high spending on farm subsidies, welfare, warfare, etc... the IRS has grown bigger, richer, more powerful, and more arrogant. In the words of the founders of our country, our government has 'sent hither swarms' of tax gatherers 'to harass our people and eat out their substance.' His officers jailed the innocent George Hansen, with the President refusing to pardon a great American whose only crime was to defend the Constitution. Reagan's new tax 'reform' gives even more power to the IRS. Far from making taxes fairer or simpler, it deceitfully raises more revenue for the government to waste... I want to totally disassociate myself from the policies that have given us unprecedented deficits, massive monetary inflation, indiscriminate military spending, an irrational and unconstitutional foreign policy, zooming foreign aid, the exaltation of international banking, and the attack on our personal liberties and privacy.

92. Neil Cavuto: Yeah but, you can't, Congressman, we've got a pretty good economy going here, right? We've got productivity soaring. We've got retail sales that are strong. We've got corporate earnings that for, what, the 19th quarter, are up double digit? We've got a market chasing highs, I mean, this isn't happening in a vacuum, right? Ron Paul: Yeah, that's nice, but when you have to borrow, you know... My personal finances would be very good if I borrowed a million dollars every month. But, someday, the bills will become due. And the bills will come due in this country, and then we'll have to pay for it. We can't afford this war, and we can't afford the entitlement system. Neil Cavuto: Look, Congressman, did you say this 10 years ago, when the numbers were similarly strong... Ron Paul: Go back and check. Neil Cavuto: ...and we were still borrowing a good deal then. Ron Paul: That's right, that means the dollar bubble is much bigger than ever. Neil Cavuto: So what's gonna happen? Ron Paul: We've had the NASDAQ bubble collapse already. We have the housing bubble in the middle of a collapse, so the dollar bubble will collapse as well. We have to live within our means. You can't print money out of the blue, and think you can print your money into prosperity.