"Our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve -- and I believe this can be done -- a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future."
John F. Kennedy
(1917-1963) 35th US President
Dec. 14, 1962, address to the Economic Club of New York
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Reader comments about this quote:
And they still had him shot.
 -- Allen, DC     
     -- Charles, Leander, Texas      
    Credit based economies are never wise ! We see the socialist running out of other peoples fiat money all the time ! Socialism should be abolished not manipulated.
     -- Ronw13, Yachats Or     
  • 1
    Kennedy understood economics more than presidents today. It got him killed. Instead of adding more US debt by issuing interest-bearing Treasury bonds for Federal Reserve Notes that are simply created by the stroke of a pen, Kennedy re-introduced Silver Certificates backed by silver held in the Treasury -- the first real money issued since 1934. It totally threw a monkey wrench into the whole fiat money con foisted upon the USA (and the world). After JFK was assassinated, LBJ bought all those silver certificates back with more US debt to the Fed.

    Here's the thing: the world system of money is the source of perpetual debt -- our money represents IOUs, nothing more. In other words, our money is only as good as our word! Which is why at the UTMOST those charged with issuing currency must perform their duties with absolute integrity. There is NO INTEGRITY in our current fiat monetary system -- it is a confidence game, a rigged game, designed to siphon not only the cream but nearly the entire milk bucket.

    Our money can be likened to a corrupt casino whose owners gamble with poker chips they haven't bought with cash (because they have the key to the poker chips) and go 'play' -- they can lose them all, it doesn't matter, the chips just go back in the box. But whatever they 'win' has been done without any risk or investment and can be exchanged for cash -- just a scam that they control.

    The bankers that run this game know what they are doing, and as long as they can keep the left and the right blaming each other, they can keep the rivers and rivers of power/money flowing to them. Follow the money, and you will find them.
     -- E Archer, NYC     
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    Ronw13 and Archer, well said and accurate. Kennedy recognized the larceny of forcibly extracting the noble laborer's fruit and the effect it had on the entire economy. If there were real money (a tangible issue with intrinsic value) and no 2nd plank of the communist manifesto, the job of restoring economic health and liberty related personal responsibility would be much less painful. This and the following shemitahs look as though they may burst forth in biblical proportions because of the here topic and otherwise flagrant anti-natural law actions.
     -- Mike, Norwalk     
  • 1
    E Archer, very well said.
     -- jim k, Austin     
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