Richard Lamm Quotes
A rising economic tide not only raises all ships but prevents them from bumping into each other.
Richard Lamm, Colorado Governor (Democrat), C-SPAN American Perspectives, October 11, 2001
Sourced by: Eigen's Political and Historical Quotations
Prince de Benévant. Alexander Hamilton had devised a system of bonds to assume the revolutionary war debt, and, despite the objection of many other politicians like Jefferson, assumed a national debt. But the Untied States was growing and Hamilton’s bonds were so well implemented, that even the sophisticated leaders of Europe were openly admitting that U. S. Bonds were excellent investments and Europeans and other foreigners have been buying American debt ever since.
The economy was terrific under the Republicans and it is always hard to run against a successful economy. However, the lack of meaningful regulation and corporate and financial dominance caused the economy to come crashing down in 1929. See Hoover’s description {603859},
There were many who believed that a thriving growth economy depended in part on wartime military spending levels. The issue is still controversial.
The most successful way of poor nations developing rapidly is to trade with rich nations.
Actually the statement is not literally true though the exceptions are not numerous. People who sold their American common stocks before the 1929 stock market made money. The few people who bet against the U. S. Housing and Mortgage markets before the Meltdown of 2008, made a great deal of money. Over extended long periods, Biden’s statement is true.
At the time of this quotation, the nation had gone through more than 3 decades of enormous increase in prosperity for the wealthy, and modest gains for the highly skilled, technically trained workers. However, correcting for inflation, average salaries did not increase at all. The middle class was particularly hard hit. Only 20 percent of the population benefitted from the growth at all; however, the 1 percent had rarely prospered more. Kenworthy’s principle did not apply for this period of American history.
Richard Douglas Lamm is an American politician, writer, and attorney. He served three terms as 38th Governor of Colorado as a Democrat (1975–1987) and ran for the Reform Party's nomination for President of the United States in 1996. Lamm is a Certified Public Accountant and currently the Co-Director of the Institute for Public Policy Studies at the University of Denver.
