David L. Boren Quotes
The county will fail if we enact this budget.
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. Boren, normally a wise and sound Senator, had bought into the Republican ideology and mantra that raising taxes will slow the economy. 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 {626774} for Clinton’s argument for the budget.
David L. Boren, Oklahoma Governor (Democrat), U. S. Senator (Democrat, OK), Comment to the first proposed budget of President Bill Clinton
Sourced by: Eigen's Political and Historical Quotations
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.
At the time, the George W. Bush Administration policy was to have the United States running a very large trade and budget deficit—the largest in the history of the world. In order to finance the deficit, the U. S. Government had to borrow money and it did so by selling bonds and other financial instruments. Many of these were purchased by Asians, but Paul’s point was that they were “propping up” American spending habits and might not continue to do so.
Although the Professor was often right about this technique, at the time he made this statement, the Clinton administration was actually cutting spending and using much of the revenue to pay for the deficit—just the opposite of what the Professor was worried about. It was successful and the deficit was eliminated and surpluses were projected. However the succeeding administration more closely followed the professor’s pattern and increased spending enormously for serious needs, but also cut taxes, so that we went during the Bush administration from the largest projected surplus in American history to the greatest deficit in American history.
Announcing a 5% pay cut for himself and other top city administrators:
After the Stock Market crash of 1929, Republican politicians promised "recovery is right around the corner." But La Guardia disagreed:
David Lyle Boren is a retired American university administrator and politician from the state of Oklahoma. A member of the Democratic Party, he served as governor of Oklahoma from 1975 to 1979 and three terms in the United States Senate from 1979 to 1994. A conservative Democrat, as of 2021, he is the last in his party to have served as U.S. Senator from Oklahoma. He was the 13th and second-longest serving president of the University of Oklahoma from 1994 to 2018. He was the longest serving chairman of the Senate Select Committee on Intelligence. On September 20, 2017, Boren officially announced his retirement as president of the University of Oklahoma, effective June 30, 2018.
