Political Quotes

“In fact, the only Federal expenditure that compares with this bailout is if you compare it in real dollars to World War II. This is a bailout that exceeds everything, including the interstate system in the United States. World War II is the only thing that cost more money, and that was, of course, national survival. This Nation was in peril. So we can go down the path of the Keynesian, which you have discussed, and I reject that. There is no Keynesian proposal if you look back in history that can be supported. I go to the other side, to the supply side of this. I look at the tax cuts throughout different presidencies we have had. It is clear when John F. Kennedy was instrumental in signing the legislation that cut taxes, we increased the revenue and grew the economy. Another two decades later when Ronald Reagan came in, we cut taxes, increased the revenue to the Federal Government and grew the economy. When George Bush looked at the bursting of the dot.com bubble, which happened just before his watch, something needed to be done, and he offered the 2001 tax cuts. Those said we are on a little bit of a sugar high in this economy, it was a short bridge, they recognized it, and on May 28, 2003, the real Bush tax cuts took place. They are sunsetted eventually, but they also bridged this economy. Those are some of the things that we need to do.”