No party has a monopoly on wisdom. No democracy works without compromise. But when Governor Romney and his allies in Congress tell us we can somehow lower our deficit by spending trillions more on new tax breaks for the wealthy - well, you do the math. I refuse to go along with that. And as long as I'm President, I never will.
What we're discussing privately and publicly, is a budget which is a blueprint for the future which creates jobs, which educates our children, which provides healthcare for all Americans, which takes our deficit down, which gives a tax cut for 95% of the American people.
The president has been a true friend of the ag industry, because he continues to invest large amounts of money at a time when savings is really the goal of the federal government to deal with the deficit.
To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.
I'm not a detail guy. I depend on accountants and administrators to do my detail stuff for me, but I do know the overall picture and I know that if you put business people together in a room, not just politicians, they could shrink the deficit tremendously by good business tactics.
I'm finding myself really angry over spending and the deficit. I'm finding myself really angry over what's happening in the Middle East, the decision to stay in Afghanistan indefinitely. I'm angry about cap and trade. And I've been on record for a long time on the failed war on drugs.
The unjustified swelling of the budgetary deficit and the accumulation of public debts are just as destructive as adventurous stock-jobbing.
So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.
Whether they run a record company or a grocery store, every boss will tell you you're in big trouble if you're borrowing more than you can ever afford to pay back. Delaying the pain for future generations is suicidal. We've got to start getting the deficit down right now, not next year.
I think it's very important not to confuse the importance of dealing with Social Security in the long term with these short-term deficit reduction challenges. They're different issues.