Political Quotes

“When we look at how best to get our deficit under control, he makes the observation that a one-tenth of 1 percent increase in GDP growth accounts for about an additional quarter of a trillion dollars, $250 billion, in additional Federal revenue over a 10-year period. This is why economic growth is so important. The real reason it is mostly important is for the benefits that accrue to the American people who produce this growth; but if we want to figure out how do we get our budget house in order here, a strong economy gets us there. One-tenth of 1 percent, going from 4 percent growth to 4.1 percent growth, just that small difference amounts to an extra quarter of a trillion dollars in Federal revenue. If we can maximize economic growth and have some discipline on the spending side, we get this budget back to balance. We are moving in that direction, and I think that is a direction we should stay in.”