Louie Gohmert: “I ran across some quotes here that are right in line with what my friend from Midland has been saying. Here's a quote…”

“I ran across some quotes here that are right in line with what my friend from Midland has been saying. Here's a quote from Dr. Richard Wagner, Professor of Economics at George Mason University. He said, ``The government can increase its spending only by reducing private spending equivalently. Whether government finances its added spending by increasing taxes, by borrowing, or by inflating the currency, the added spending will be offset by reduced private spending. Furthermore, private spending is generally more efficient than the government spending that would replace it because people act more carefully when they spend their own money than when they spend other people's money.'' What an insightful quote. Another quote, ``As Congress and President-elect Obama work together to help middle class families and get our economy back on track, the deficit estimate makes it clearer than ever that we cannot borrow and spend our way back to prosperity when we're already running an annual deficit of more than $1 trillion.”