Thursday, July 8, 2010

Debt is not the answer

"The fact is, we'll never build a lasting economic recovery by going deeper into debt at a faster rate than we ever have before. ... Inflation is the cause of recession and unemployment. And we're not going to have real prosperity or recovery until we stop fighting the symptoms and start fighting the disease. There's only one cause for inflation -- government spending more than government takes in. The cure is a balanced budget. Ah, but they tell us, 80 percent of the budget is uncontrollable. It's fixed by laws passed by Congress. Well, laws passed by Congress can be repealed by Congress. And, if Congress is unwilling to do this, then isn't it time we elect a Congress that will?" --Ronald Reagan

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