QUOTIENT, n. A number showing how many times a sum of money belonging to one person is contained in the pocket of another - usually about as many times as it can be got there.
The policy of letting things alone, in the practical sense that the Government should never interfere with business or go into business itself, is called Laisser-faire by economists and politicians. It has broken down so completely in practice that it is now discredited; but it was all the fashion in politics a hundred years ago, and is still influentially advocated by men of business and their backers who naturally would like to be allowed to make money as they please without regard to the interest of the public.
All the money in the world is no use to a man or his country if he spends it as fast as he makes it. All he has left is his bills and the reputation for being a fool.
Tonight, more Americans are out of work and more are working harder for less. More of you have lost your homes and even more are watching your home values plummet. More of you have cars you can't afford to drive, credit card bills you can't afford to pay, and tuition that's beyond your reach.
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 right now give $15 billion every year as subsidies to private insurers under the Medicare system. Doesn't work any better through the private insurers. They just skim off $15 billion.
The true thrift is always to spend on the higher plane; to invest and invest, with keener avarice, that he may spend in spiritualcreation, and not in augmenting animal existence. Nor is the man enriched, in repeating the old experiments of animal sensation; nor unless through new powers and ascending pleasures he knows himself by the actual experience of higher good to be already on the way to the highest.
So many people of wealth understand much more about making and saving money than about using and enjoying it. They fail to live because they are always preparing to live.