Franklin D. Roosevelt Quotes
Let us have the courage to stop borrowing to meet continuing deficits. Revenues must cover expenditures by one means or another. Any government, like any family, can, for a year, spend a little more than it earns. But you know and I know that a continuation of the habit means the poor house.
This is a particularly interesting historical quotation. It shows that when FDR was first elected, he had a classic view of deficit spending. However, above all, Roosevelt was a pragmatist and not an ideologue. Faced with the Great Depression that was not getting much better, Roosevelt turned around, changed his mind and policy about deficits and embarked on the “pump priming” approach of injecting substantial Federal spending into the economy and accepting the deficits in order to improve the situation which had been stagnant. FDR’s new policy staved off total disaster, but few remember that his great success was a total reversal of his earlier views.
Franklin Delano Roosevelt, 1882-1945, 32nd President of the United States (Democrat, NY), Radio Address, July 1932
Sourced by: Eigen's Political and Historical Quotations
After the Stock Market crash of 1929, Republican politicians promised "recovery is right around the corner." But La Guardia disagreed:
Perry was one of a number of politicians who became opposed to deficit spending, and claimed that the public was not interested in the various projects. However, whenever any of these politicians proposed projects or programs to cut, there would be many citizens who would object vehemently. It was precicely because there was a constituency supporting all the government programs that politicians found it so hard to keep spending under control. Indeed, when others suggested terminating spending on programs and projects Perry liked, he objected as strenuously as most others.
In 1964 the treasury secretary asked the president how to sell the proposed budget to Congress:
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.
This position angered the extreme conservatives and the extreme liberals who both opposed him in 2012. However, the majority of the state supported him and he was elected on this middle of the road platform with most of the activists against him.
In the non-defense side of the budget a very large proportion of the budget is for entitlements like Social Security and Mediacre which are obligations that must be paid. The remainder, the smaller part is everything else--funding the cabinet departments, all the medical and sdcientific research, all the federal aid to public dchools and police departments, all the welfare, foodstamp and other programs for the poor, the costs of the Federal COurt System, the White House, the Congress, the State Department, foreign aid, Homeland security, weatehr forcasting, all the agricultural programs, and viirtually everything the governmetn does. In 2017 President Donals Trump submitted a budget to COngress that increased defense spending by a fulll 10 percent, and gave a hugh tax cut for the wealthy and the corporations. To balance the budget, he propsoed eliminateing man of the existing progrms like "Meals on Wheels" which brings at least 1 hot meal a day to homebound poor eldertly people, and a host of other critical programs. He had no previous experience with a government budget which was thoudands of times larger and more complex than any budget he had ever seen. So many in Congress, in both partiesd, were very critical of the budget and Congress then started to create its own buget. This quote expressed the heart of the problem.
Franklin Delano Roosevelt, often referred to by his initials FDR, was an American politician who served as the 32nd president of the United States from 1933 until his death in 1945. A member of the Democratic Party, he won a record four presidential elections and became a central figure in world events during the first half of the 20th century. Roosevelt directed the federal government during most of the Great Depression, implementing his New Deal domestic agenda in response to the worst economic crisis in U.S. history. As a dominant leader of his party, he built the New Deal Coalition, which defined modern liberalism in the United States throughout the middle third of the 20th century. His third and fourth terms were dominated by World War II, which ended shortly after he died in office.
