Kristi Noem Quotes
We must stop spending money that we just don't have. Historic debt leads to historic tax increases, which stifle job growth.
Noem, Kristi. "Noem Responds to State of the Union Address." Office of Representative Kristi Noem, 25 Jan. 2011.
Almost every major corporation that is growing must borrow money to finance the growth. There is a great temptation to do this continuously, as if all works out the borrowed money is paid back and the nation has grown. However, not every investment succeeds, and when they do, few nations will take the growth and save it for a future date when a national investment does not work out as well as hoped. Gradually national debt as a proportion of the economy gets larger and larger and it makes mew investments more and more difficult to succeed because of the higher rates of interest that must be paid. Every modern country must find a balance. Those that do not can have a financial disaster such as Greece in the early part of the 21st century.
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.
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Kristi Lynn Noem is an American politician serving as the 33rd and current governor of South Dakota since January 5, 2019. A member of the Republican Party, she was the U.S. Representative for South Dakota's at-large congressional district from 2011 to 2019 and a member of the South Dakota House of Representatives for the 6th district from 2007 to 2011. Noem was elected governor in 2018 and is South Dakota's first female governor.
