Abner Lacock Quotes

No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure.

We campaigned on the fact that we were going to have to take difficult decisions because of the state of the public finances. When we got into government we discovered that actually the public finances were in an even worse state than we thought.

When you're the president of the United States and you know that the biggest issue facing you is this cliff that we're about ready to head over if we don't get this spending and debt situation under control, it's very irresponsible not to take the action that is necessary to fix the problem.

How much would you pay to avoid a second Depression?

The American people will eventually get hurt by this accumulated deficit. That's the problem. We have too much deficit. We have to find a solution.

I've been Secretary of the Treasury for 147 days, and in that 147 days I've written $133 billion worth of hot checks.

Not having a country with a financial crisis in the year is a pretty big deal to me. But something that didn’t happen is not something that people will focus on.

Three Presidents served under Andrew Mellon in his 12 years in office.

Donald J. Trump has the good fortune of taking office as the economy is finally recovering from the 2008 crisis.

During an economic crisis, what matters is that the government keeps its foot on the accelerator.

We have to deal with the nation's debt.

The passage of the American Recovery and Reinvestment Act - or stimulus bill, as it is often called - is a perfect example in which dire circumstances necessitate immediate action. But with such large amounts of taxpayer money at stake, a hastily developed, under-thought-out plan could have been disastrous.

It's better to have the taxpayer pay for the losses than have the United States of America become an economic wasteland. If the financial system collapses, it's really, really hard to put it back together again.

Prosperity cannot be restored by raids upon the public Treasury.

The Obama administration's large and sustained increases in debt raise the specter of another financial crisis and large future tax increases, further chilling business investment and job creation.

The failure of Lehman Brothers demonstrated that liquidity provision by the Federal Reserve would not be sufficient to stop the crisis; substantial fiscal resources were necessary.

Well obviously the economy is critical to everything we do and we need to get the economy back in shape, the deficit down, the debt paid off, so that the economy can grow again and grow properly.

Restore, without delay, the equilibrium between revenue and expenditures, which has done so much to destroy our credit and derange the whole fabric of government. If that should not be done, the government and country will be involved, ere long, in overwhelming difficulties.

The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

In his first year in office, President Obama pulled us back from the brink of the greatest economic crisis since the Great Depression and worked to lay a new foundation for economic growth. The president identified three key strategies to build that lasting prosperity: innovation, investment, and education.

With the lessons taken from the financial crisis in 1997, the Republic of Korea has been able to surmount the global economic crisis rather successfully.

The debt limits have to come down. The whole world of debt has to be changed as far as this country is concerned. We have to create jobs and we have to create them rapidly because if we don't things are just going to head in a direction that's going to be almost impossible to recover from.

The Prime Minister in the UK thinks spending and borrowing more is the right thing to do in the circumstances, and is busily trying to bail out chunks of the private sector which would otherwise have to adjust more quickly to the painful reality that we have been living beyond our means.

I started out in public service in 1998 after the Asian financial crisis of '97.

Governments need to be authorized to provide 'open bank assistance.' The convolutions of Dodd-Frank aimed at 'avoiding' this tactic are ludicrous and will prove to be extremely costly to the system.