Absolute freedom of the press to discuss public questions is a foundation stone of American liberty.
Herbert HooverRead
The budget should be balanced not by more taxes, but by reduction of follies.
Interpretation
Hoover suggests that instead of raising taxes, governments should cut unnecessary expenses.
In this quote, Herbert Hoover emphasizes that a balanced budget should be achieved through prudent financial management, rather than placing a heavier burden on taxpayers. He advocates for reducing wasteful expenditures, or 'follies', which reflects a philosophy of fiscal responsibility and efficiency in governance.
In practice
This quote could be used in a speech about fiscal policy at a government conference.
Absolute freedom of the press to discuss public questions is a foundation stone of American liberty.
No prosaic description can portray the grandeur of 40 miles of rugged mountains rising beyond a placid lake in which each shadowy precipice and each purple gorge is reflected with a vividness that rivals the original.
Blessed are the young for they shall inherit the national debt.
Peace is not made at the council table or by treaties, but in the hearts of men.
Words without actions are the assassins of idealism.
There is no more cruel illusion than that war makes a people richer.
Without calculation, economic activity is impossible. Since under Socialism economic calculation is impossible, under Socialism there can be no economic activity in our sense of the word All economic change, therefore, would involve operations the value of which could neither be predicted beforehand nor ascertained after they had taken place. Everything would be a leap in the dark. Socialism is the renunciation of rational economy.
If you want a simple model for predicting the unemployment rate in the United States over the next few years, here it is: It will be what Greenspan wants it to be, plus or minus a random error reflecting the fact that he is not quite God.
If you don't talk about families, then it's easy to disembody subprime mortgages and asset securitization and unemployment rates without remembering that every one of those numbers is a million families.
Many markets work best with little or no outside interference. But others - especially those subject to big 'externalities' - need a helping hand.
No bank should be too big or too complex to fail, but almost any bank is too big to liquidate quickly, particularly in the midst of a crisis.
Burdening people with debt is an old deal not a new deal.
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