When it comes to the budget, we know that we shouldn't be cutting more on core investments, like education, that are going to help us grow in the future. And we've already seen the deficit cut in half. It's going down faster than any time in the last 60 years. So why would we make more cuts in education, more cuts in basic research? Nobody thinks that's a good idea.
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.
They call me eccentric. They used to call me nuts. I haven't changed. The only difference between being eccentric and being nuts is the number of security boxes you own.
Our resources may be finite, but our will is infinite, and I am confident that if we come together and summon that great American spirit once again, we will meet the challenges of our time and write the next great chapter in our American story.
Money alone is only a mean; it presupposes a man to use it. The rich man can go where he pleases, but perhaps please himself nowhere. He can buy a library or visit the whole world, but perhaps has neither patience to read nor intelligence to see.... The purse may be full and the heart empty. He may have gained the world and lost himself; and with all his wealth around him ... he may live as blank a life as any tattered ditcher.
The money power preys on the nation in times of peace, and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes.