Franklin Raines Quotes

In the past, proactive fiscal polices almost always meant just more investment and an increase in the fiscal deficit.

If the program goes off track again due to recession, this should not become a pretext for the imposition of more austerity measures.

A national government has to be able to spend money in a recession to make up for the private money that is not being spent.

There are long lags between the start of a downturn and the potential launch of an effective fiscal stimulus.

Aggressive government spending during the Great Recession was absolutely necessary.

If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold.

In the middle of a recession, where we're just climbing out of it, where the economy -unemployment is still at 9.7 percent, the idea of raising taxes and reducing spending is a prescription for disaster.

Clinton took very tough decisions on the economy.

Stimulus does not work.

If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.

We've used up a lot of bullets. And we talk about stimulus. But the truth is, we're running a federal deficit that's 9 percent of GDP. That is stimulative as all get out. It's more stimulative than any policy we've followed since World War II.

You just don't see people running through the streets to have the deficit cut.

There is a broad consensus, not only in the United States but in most of the world, that if you are in an economic downturn, you need to stimulate. Germany seems to be an exception.

To create employment, we need to stimulate the economy, and to stimulate the economy, we need to cut spending and reduce the deficit.

Let's be clear: raising taxes during a very slow recovery is likely to lead to another recession, and it will do absolutely nothing to balance the budget.

When you're facing the threat of recession, you need to have an expansionary monetary and fiscal policy. Pre-Keynesian, Hooverite views are dead everywhere except on 19th Street in Washington.

History is replete with examples of moments in time when we talk about deficit reduction and try to advance on it around the world, that is, where it leads to job losses, not job creation.

The economy is terrible it's been terrible for years now, and the reason it's bad is not because of a debt-ceiling vote. The reason it's bad is because we have people who believe that by making government bigger by keeping people on unemployment checks and on welfare we're going to dig us out of this mess.

Deficits must be cut, yes, but the rush to austerity risks undermining the fragile global recovery.

The only way to eliminate the deficit in the long run is through growth.

In the middle of a recession no tax increase is justified because it kills jobs, and any tax increase is a job-killing measure and should be defeated.

Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.

It's a European Union of economic failure, of mass unemployment and of low growth.

You cannot spend your way out of recession or borrow your way out of debt.

Long periods of recession, which tend to be self-perpetuating, are usually ended by war, or by preparations for it.