Instead of having a set of policies that are equipping people for the globalization of the economy, we have policies that are accelerating the most destructive trends of the global economy.
Money is a sort of instinct. It's a sort of property of nature in a person to make money. It's nothing you do. It's no trick you play. It's a sort of permanent accident of your own nature; once you start, you make money, and you go on. . . But you've got to begin. . . You've got to get in. You can do nothing if you are kept outside. You've got to beat your way in. Once you've done that, you can't help it!
People go on postponing everything that is meaningful. Tomorrow they will laugh; today, money has to be gathered... more money, more power, more things, more gadgets. Tomorrow they will love - today there is no time. But tomorrow never comes, and one day they find themselves burdened with all kinds of gadgets, burdened with money. They have come to the top of the ladder - and there is nowhere to go except to jump in a lake.
How quickly nature falls into revolt When gold becomes her object! For this the foolish over-careful fathers Have broke their sleep with thoughts, their brains with care, Their bones with industry.
When George Bush came into office, we had surpluses. And now we have half-a-trillion-dollar deficit annually. When George Bush came into office, our national debt was around $5 trillion. It's now over $10 trillion. We've almost doubled it.
What we also have to recognize is that the deficit levels that I'm inheriting, over a trillion dollars, coming out of last year, that that is unsustainable. At a certain point, other countries stop buying our debt, at a certain point, we'd end up having to raise interest rates, and it would end up creating more economic chaos and potentially inflation.