To the extent that we've got a fiscal crisis right now, part of it is prompted by a bullheaded insistence on the part of the president, for example, that we should extend all of his tax cuts, make all of them permanent.
We have an obligation and a responsibility to be investing in our students and our schools. We must make sure that people who have the grades, the desire and the will, but not the money, can still get the best education possible.
We shall take whatever action is necessary to contain the growth of the money supply. The government, unlike so many of its predecessors, will face up to economic realities.
Money is a guarantee that we may have what we want in the future. Though we need nothing at the moment it insures the possibility of satisfying a new desire when it arises.