Political Quotes

“history has shown that there are two keys necessary to effectively reduce the Federal budget deficit. The first is to strengthen the economy, make the pie bigger. Business prospers. Jobs and opportunity increase. Families have more disposable income. Tax revenues soar, the Treasury reaps a windfall, and government is better able to care for its legitimate responsibilities. But this key, alone, will not work. To take control of the deficit, it is not enough to strengthen the economy. The record-setting economic growth of the eighties proved that a second key is needed if we are to place this country back on a sound financial foundation. Due largely to the income tax cuts that stimulated the longest peacetime economic expansion in history, Federal revenues between 1980 and 1992 increased by 100 percent. Money poured into the Treasury. It is true that Americans were paying a lower percentage of their income to taxes, but the windfall resulted because Americans were making more money--much more, as some 18 million new jobs were created and more than 4 million new businesses opened their doors.”