Mitt Romney Quotes
Fourth, to assure every entrepreneur and every job creator that their investments in America will not vanish as have those in Greece, we will cut the deficit and put America on track to a balanced budget.
Romney, Mitt. "Republican National Convention Acceptance Speech." 30 Aug. 2012, Tampa Bay Times Forum, Tampa, FL. Speech.
After many years of deficit financing, Clinton finally produced a balanced budget and together with his Secretary, of the Treasury, Robert Rubin, actually developed an economy which was producing a huge annual surplus that would soon eliminate the national debt. However, when George W. Bush replaced Clinton after two terms, Bush was unable to manage the budget any better than the other aspects of the Presidency. He cut taxes dramatically and even after it was clear that the Clinton surplus was squandered, he continued tax reductions and even increased them while increasing government spending creating the biggest government in history and went from our largest surplus to our largest deficit in his 8 years.
The Clinton budget was a very unusual one. He and Treasury Sectary Robert Rubin determined that the large deficit built up in the previous administrations and the high interest rate were competing with the private sector for investment capital. Therefore the budget raised taxes and took other steps to reduce the largest deficit then in American History. Virtually all of the Republicans saw disaster for the economy with this budget and even some of the fiscal conservatives from Clinton’s own party were opposed. The budget passed by a single vote in the House, and that started the largest economic growth period in American History. The economy became so strong that Clinton was able to produce a balanced budget, eliminate the Reagan deficit and produce more new jobs than any administration in American history. The prediction that the budget would cause the country to fail was, not only wrong, but the budget caused the nation to succeed, beyond what any thought possible. See {626772} for one of the warnings from his own party.
Willard Mitt Romney is an American politician and businessman who has served as the junior United States senator from Utah since January 2019, succeeding Orrin Hatch. He served as the 70th governor of Massachusetts from 2003 to 2007 and was the Republican Party's nominee for president of the United States in the 2012 election.
