Political Quotes

“Madam President, when I was first elected to Congress in the 1970s, I ran as ``Grassley, the inflation fighter.'' Inflation was about 12 or 13 percent at that time. When I ran for the Senate, it was 12 or 13 percent again, and it hasn't been a major problem since then. Those who remember that time of high inflation know that it is a time period when inflation was a real problem. It kneecaps middle-class prosperity and causes severe hardships for those already struggling. Inflation is nothing short of a regressive tax, as it hurts Americans more the less money that they have. It is a stealth tax. With the income tax, you can see how much the government is taking out of your paycheck. With a sales tax, you can see on your receipt what the government took for its cut. With inflation, the value of the dollar in your pocket is reduced without even leaving your billfold. When Americans suddenly notice that it costs more to buy the same groceries, it can be hard to know whom to blame. Did the store just decide to raise prices or is inflation caused by mysterious economic forces beyond anyone's control? In reality, the Federal Government can directly cause inflation by printing too much money to feed its spending habits. Politicians like to promise freebies that someone else will pay for--maybe ``the rich'' will pay. Who is ``the rich,'' you might ask. ``Don't worry; it is not you,'' the big spenders assure us. Well, don't be so sure.…”