Political Quotes

“Let me just jump in for a moment. You know, the charts that you chose actually have a relationship to each other, and you alluded to the mechanics of what that connection is, which is, when the government creates a job by hiring somebody, it does create a job. The problem is it kills two other jobs in the private sector. So you think to yourself, hey, if we have unemployment, for the temporary sense, let's get the government to spend some money and hire a bunch of people, and that will take care of the problem in the short term. Maybe the economy will rebound, and then maybe the government will shrink, and more private-sector jobs will come along. Not so. What happens, in fact, is, when the government creates jobs, it spends a whole lot more money. It takes money away from the private sector, and it drives the number of private jobs down. So what you've just shown is an illustration and an example of a failed economic policy. It's a failed economic policy, and we should have known from Henry Morgenthau that it wasn't any good and that it wasn't going to work. He said, Look. We've tried spending money. We're spending more than we've ever spent before, and it doesn't work. Now we're turning around and are doing it over again. With 8 years in the administration, we've just as much unemployment as when we started and an enormous debt to boot. So what are we doing now? Oh, we're repeating this same foolish policy. Here it is. Nobody really wants to look at this graph.…”