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.
Let me tell you another place to look for some savings. We are currently spending $10 billion a month in Iraq when they have a $79 billion surplus. It seems to me that if we're going to be strong at home as well as strong abroad, that we have to look at bringing that war to a close.
Money nowadays is money; money brings office; money gains friends; everywhere the poor man is down.
[Lat., In pretio pretium nunc est; dat census honores,
Census amicitias; pauper ubique jacet.]
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.
He remembered poor Julian [actually F. Scott Fitzgerald] and his romantic awe of them and how he had started a story once that began, "The very rich are different from you and me." And how someone had said to Julian, "Yes, they have more money."
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.
I went to the circus, and loafed around the back side till the watchman went by, and then dived in under the tent. I had my twenty-dollar gold piece and some other money, but I reckoned I better save it.... I ain't opposed to spending money on circuses, when there ain't no other way, but there ain't no use in wasting it on them.