Herman Cain Quotes

You have to take it seriously that the economy is in crisis.

The simple fact of the matter is, as I know everyone in this room knows, that the recession that this country faced when this President took office was the worst since the Great Depression.

There are different flavors of recession. You can get into some pretty dark scenarios pretty quickly.

The 2008 economic crisis and Great Recession forced widespread restructuring throughout the U.S. economy - not unlike a company gritting its teeth through a lifesaving bankruptcy.

The reality for us in America is that we will never get out of debt with more than 15 million people out of work.

How much would you pay to avoid a second Depression?

I don't think it's the end of the world even if we have a recession. We'll pull back out of it again. No big deal.

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

The financial crisis should not become an excuse to raise taxes, which would only undermine the economic growth required to regain our strength.

We all knew this. We all knew that it would take more time than any of us want to dig ourselves out of this hole created by this economic crisis.

The world is still in deleveraging.

Unemployment is sky-rocketing; deflation is in our future for the first time since the Great Depression. I don't care whose fault it is, it's the truth.

I worry about another leg down in the economies causing social disruption because deleveragings can be very painful - it depends on how they're managed.

In a normal time, I don't think economic policy makes a large difference one way or another. But in times of crisis it makes all the difference in the world.

Up until the Depression, recession had a moral character: it was supposed to purge the body economic of the greed and excess that attends a business expansion.

I think that this is the most significant financial crisis in the post-War period for the United States, and it has in fact a global reach.... I think it is extraordinarily important to understand that, as we have seen in many previous examples of different countries and different times, choking up of credit is like taking the lifeblood away from the economy.

Rising unemployment and the recession have been the price that we have had to pay to get inflation down. That price is well worth paying.

… a depression is for capitalism like a good, cold douche.

This matter of prices was frequently made a subject for jesting in private, but for the most part it was carefully avoided in the newspapers. It was too ominous of evil to be a fit topic of editorial discussion on ordinary occasions. As with the accounts of battles in which our arms were not successful, necessary references to the condition of the finances were crowded into a corner, as far out of sight as possible.

The cozy world we were told would go on forever, where full employment would be guaranteed by a stroke of the Chancellor’s pen, cutting taxes, deficit spending—that cozy world is gone.

I have 13 bankers in my office, and they say that if you go forward with this you will cause the worst financial crisis since World War II.

A national government has to be able to spend money in a recession to make up for the private money that is not being spent.

I believe that the root cause of every financial crisis, the root cause, is flawed government policies.

Alan Greenspan is going to go down in history as one of the worst Federal Reserve chairmen ever.

We simply can't spend our way out of a recession.