Douglas Alexander Quotes


I do think our challenge is to balance credibility and a clear message about how we would reduce the deficit with boldness about the choices that we put before the public.


Citations

Alexander, Douglas. "Labour's Economic Plan." BBC News, BBC, 14 Jan. 2014.

Related Quotes

After many years of deficit financing, Clinton finally produced a balanced budget and together with his Secretary, of the Treasury, Robert Rubin, actually developed an economy which was producing a huge annual surplus that would soon eliminate the national debt. However, when George W. Bush replaced Clinton after two terms, Bush was unable to manage the budget any better than the other aspects of the Presidency. He cut taxes dramatically and even after it was clear that the Clinton surplus was squandered, he continued tax reductions and even increased them while increasing government spending creating the biggest government in history and went from our largest surplus to our largest deficit in his 8 years.


The Clinton budget was a very unusual one. He and Treasury Sectary Robert Rubin determined that the large deficit built up in the previous administrations and the high interest rate were competing with the private sector for investment capital. Therefore the budget raised taxes and took other steps to reduce the largest deficit then in American History. Virtually all of the Republicans saw disaster for the economy with this budget and even some of the fiscal conservatives from Clinton’s own party were opposed. The budget passed by a single vote in the House, and that started the largest economic growth period in American History. The economy became so strong that Clinton was able to produce a balanced budget, eliminate the Reagan deficit and produce more new jobs than any administration in American history. The prediction that the budget would cause the country to fail was, not only wrong, but the budget caused the nation to succeed, beyond what any thought possible. See {626772} for one of the warnings from his own party.


Douglas Alexander
Douglas Alexander
  • Born: October 26, 1967
  • Nationality: British
  • Profession: Politician

Douglas Garven Alexander is a former Scottish Labour Party politician who served as Member of Parliament (MP) for Paisley and Renfrewshire South, previously Paisley South, from 1997 to 2015. During this time, he served as Secretary of State for Scotland & Transport and Secretary of State for International Development in the Cabinet under Prime Ministers Tony Blair and Gordon Brown. He subsequently served in Ed Miliband's Shadow Cabinet as Shadow Secretary of State for Work and Pensions and Shadow Foreign Secretary.