Arthur Laffer Quotes

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.

Certainly, 9 percent unemployment and very slow growth is not a good situation.

The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies.

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.

In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression.

I think if there's a great depression there might be some hope.

The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.

The 24% unemployment reached at the depths of the Great Depression was no picnic.

Facts are facts: No president since Franklin Delano Roosevelt in the Great Depression inherited a worse economy, bigger job losses or deeper problems from his predecessor. But President Obama is moving America forward, not back.

I thought the Bush economic policy was a disaster. We lost 500,000 private sector jobs during his tenure.

A recession is when a neighbor loses his job. A depression is when you lose yours. And recovery is when Jimmy Carter loses his.

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

Like many places across the country, Wisconsin lost more than 100,000 jobs from 2008 to 2010. Unemployment during that time topped out at over 9%.

But despite historic levels of obstruction, President Obama was able to bring the economy back from the verge of a second Great Depression.

Every month that we do not have an economic recovery package 500 million Americans lose their jobs.

It took capitalism half a century to come back from the Great Depression.

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.

This recession is the deepest in our lifetimes, the deepest since 1929. If you take the people thrown out of work in the 1982 recession, the 1991 recession, the 2001 recession, not only is this bigger, this is bigger than all of those combined.

With the shrinking of the US economy, and it's shrinking very rapidly, you not only have more money, but you also have fewer goods. That's a classic double-whammy on inflation.

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

Listen, I wish economic growth only went in one direction. It doesn't. There are economic downturns. They're painful, they're harmful, and they hurt families.

Within a few months in 2008, household finances were crushed as asset values fell, millions of jobs were lost, countless credit cards were canceled, and thousands of homes were foreclosed on.

The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.

Why are people unemployed? Because there is no work. Why is there no work? Because people are not buying products and services. Why are people not buying products and services? Because they have no money. Why do people have no money? Because they are unemployed.

How much would you pay to avoid a second Depression?