deficit

A Quote by Barack Obama on obama, recovery, plan, structure, deficit, debt, and long-term

As soon as the recovery is well under way, we need to set up a long-term plan to reduce the structural deficit and make sure we are not leaving a mountain of debt for the next generation.

Barack Obama

Contributed by: Samme

A Quote by Alan Greenspan on welfare, banking system, inflation, theft, deficit, confiscation, wealth, and property rights

The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.

Alan Greenspan (1926 -)

Contributed by: peter

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