Thomas Jefferson Quotes
The same prudence which in private life would forbid our paying our own money for unexplained projects, forbids it in the dispensation of public moneys.
Thomas Jefferson, 1743-1826, 3rd President of the United States (Democratic Republican, VA), Letter to Shelton Gilliam, June 19, 1808
Sourced by: Eigen's Political and Historical Quotations
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.
In 1964 the treasury secretary asked the president how to sell the proposed budget to Congress:
Automated Teller Machine by which banks dispense cash.
This early commitment to an audit trail was actually written by presidential assistant Louis McHenry Howe in making suggestions for the speech.
Thomas Jefferson was an American statesman, diplomat, lawyer, architect, philosopher, and Founding Father who served as the third president of the United States from 1801 to 1809. He had previously served as the second vice president of the United States under John Adams between 1797 and 1801. The principal author of the Declaration of Independence, Jefferson was a proponent of democracy, republicanism, and individual rights, motivating American colonists to break from the Kingdom of Great Britain and form a new nation; he produced formative documents and decisions at both the state and national levels.