George Osborne Quotes
One big theme for me is that we have got to move from an economy built on debt to one where we save and invest in the future.
Osborne, George. "Shadow Chancellor's Address." Conservative Party Conference, Conservative Party, 6 Oct. 2009.
Almost every major corporation that is growing must borrow money to finance the growth. There is a great temptation to do this continuously, as if all works out the borrowed money is paid back and the nation has grown. However, not every investment succeeds, and when they do, few nations will take the growth and save it for a future date when a national investment does not work out as well as hoped. Gradually national debt as a proportion of the economy gets larger and larger and it makes mew investments more and more difficult to succeed because of the higher rates of interest that must be paid. Every modern country must find a balance. Those that do not can have a financial disaster such as Greece in the early part of the 21st century.
He was referring to making the idea of federal deficits emotionally negative.
At the time there was a worldwide recession and although the United States economy was not in very good shape, it was better than the other democracies and those nations with better economies then were authoritarian governments where investors did not trust their currencies. As a result, many wealthy people and businesses throughout the world were willing to lend money to the United States as a safe haven.
George Gideon Oliver Osborne CH is a British politician and newspaper editor who served as Chancellor of the Exchequer from 2010 to 2016 in the Cameron government. A member of the Conservative Party, he was Member of Parliament (MP) for Tatton from 2001 to 2017. He was editor of the London Evening Standard from 2017 to 2020.
