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"We can't get to the $4 trillion in savings that we need by just cutting the 12 percent of the budget that pays for things like medical research and education funding and food inspectors and the weather service. And we can't just do it by making seniors pay more for Medicare."
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"That policy which aims at raising the objective exchange-value of money is called, after the most important means at its disposal, restrictionism or deflationism. This nomenclature does not really embrace all the policies that aim at an increase in the value of money. The aim of restrictionism may also be attained by not increasing the quantity of money when the demand for it increases, or by not increasing it enough. This method has quite often been adopted as a way of increasing the value of money in face of the problems of a depreciated credit-money standard."
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Personal Development
"Neither has the wealth of a country any bearing on the valuation of its money. Nothing is more erroneous than the widespread habit of regarding the monetary standard as something in the nature of the shares of the State or the community.Such observers fail to recognize that the valuation of the rnonetary unit does not depend upon the wealth of the country, but upon the ratio between the quantity of money and the demand for it, so that even the richest country may have a bad currency and the poorest country a good one."
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Personal Development
"The balance-of-payments theory forgets that the volume of foreign trade is completely dependent upon prices, that neither exportation nor importation can occur if there are no differences in prices to make trade profitable."
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Personal Development
"It has been proposed that monetary liabilities should be settled in terms of gold and not according to their nominal amount. If this proposal were adopted, for each mark that had been borrowed that sum would have to be repaid that could at the time of repayment buy the same weight of gold as one mark could at the time when the debt contract was entered into. The fact that such proposals are now put forward and meet with approval shows that etatism has already lost its hold on the monetary system and that inflationary policies are inevitably approaching their end. Even only a few years ago, such a proposal would either have been ridiculed or else branded as high treason."
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Personal Development
"The agents of etatism have certainly not been lacking in zeal and energy. But, for all this, economic affairs cannot be kept going by magistrates and policemen."
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Personal Development
"The State does not govern the market; in the market in which products are exchanged it may quite possibly be a powerful party, but nevertheless it is only one party of many, nothing more than that. All its attempts to transform the exchange-ratios between economic goods that are determined in the market can only be undertaken with the instruments of the market."
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Personal Development
"A variation in the objective exchange-value of money can arise only when a force is exerted in one direction that is not cancelled by a counteracting force in the opposite direction. If the causes that alter the ratio between the stock of money and the demand for it from the point of view of an individual consist merely in accidental and personal factors that concern that particular individual only, then, according to the law of large numbers, it is likely that the forces arising from this cause, and acting in both directions in the market, will counterbalance each other."
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Personal Development
"If wealth is a magnet, poverty is a kind of repellent."
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Personal Development
"The big print giveth and the fine print taketh away."
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Personal Development
"For hundreds, even thousands, of years, people completely failed to see that variations in the objective exchange-value of money could be induced by monetary factors. They tried to explain all variations of prices exclusively from the commodity side."
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"We want everybody to act like adults, quit playing games, realize that it's not just my way or the highway."
Unity
"And I will do everything that I can as long as I am President of the United States to remind the American people that we are one nation under God, and we may call that God different names but we remain one nation."
Unity
"Since I'm the president and Democrats have controlled the House and the Senate, it's understandable that people are saying, you know, 'What have you done?'"
Politics
"Focusing your life solely on making a buck shows a certain poverty of ambition. It asks too little of yourself. Because it's only when you hitch your wagon to something larger than yourself that you realize your true potential."
Ambition
"But what we can do, as flawed as we are, is still see God in other people, and do our best to help them find their own grace. That's what I strive to do, that's what I pray to do every day."
Empathy
"There is probably a perverse pride in my administration... that we were going to do the right thing, even if short-term it was unpopular. And I think anybody who's occupied this office has to remember that success is determined by an intersection in policy and politics and that you can't be neglecting of marketing and P.R. and public opinion."
Government
"But when our elected officials and our political campaign become entirely untethered to reason and facts and analysis, when it doesn't matter what's true and what's not, that makes it all but impossible for us to make good decisions on behalf of future generations. It threatens the values of respect and tolerance that we teach our children and that are the source of America's strength. It frays the habits of the heart that underpin any civilized society -- because how we operate is not just based on laws, it's based on habits and customs and restraint and respect."
Philosophy
"But do I think that our actions in anyway violate the War Powers Resolution, the answer is no."
Politics
"We think of faith as a source of comfort and understanding but find our expressions of faith sowing division; we believe ourselves to be a tolerant people even as racial, religious, and cultural tensions roil the landscape. And instead of resolving these tensions or mediating these conflicts, our politics fans them, exploits them,and drives us further apart."
Spiritual
"That is the one thing that makes me a Democrat, I suppose - this idea that our communal values, our sense of mutual responsibility and social solidarity, should express themselves not just in the church or the mosque or the synagogue; not just on the blocks where we live, in the places where we work, or within our own families; but also through our government."
Society
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