Bert Lance Quotes

There is no left or right in economic management today.

Monetary policy and fiscal policy are inseparable.

The natural tendency of the state is inflation.

Every Congressman, every Senator knows precisely what causes inflation...but can't, support the drastic reforms to stop it because it could cost him his job

Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.

I don't think most of Congress understands how economics works.

The Adversity Index was created by msnbc.com and Moody's Analytics to track the economic fortunes of states and metro areas. Each month, the Adversity Index uses government data on employment, industrial production, housing starts and home prices to label each area as expanding, at risk of recession, in recession or recovering.

The foundations of a strong economy don't rest alone on the decisions of Chancellors or the spending programmes of government.

Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed.

The financial crisis should not become an excuse to raise taxes, which would only undermine the economic growth required to regain our strength.

If Australia finds it has a strong Australian dollar, and it has higher unemployment, then it would have to respond, and that would either be by increasing domestic demand or by weakening its own currency.

We have to change economic policy: create confidence, foster investment, cut the public deficit, restructure taxation and reform the labor laws.

Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.

Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level.

The economy grows when families can spend money on personal priorities rather than priorities imposed by the federal government.

A troubled economy is always the sitting president's fault. It was when Ronald Reagan defeated Jimmy Carter, when Bill Clinton defeated George H.W. Bush, and when Barack Obama defeated John McCain by running against George W. Bush.

People confuse economists and economic policy.

You talk to any of the job creators, and they'll tell you one of the things that concerns them the most is the debt. And so high levels of indebtedness are going to lead to high levels of taxation, which lead to high level of unemployment.

I'm an economist by training. And I know that what works is a permanent increase in buying power.

I wonder if economics has less basic core material than is necessary for fields such as mathematics, physics, or chemistry, say.

Thus, the use of fiat money is more justifiable in financing a depression than in financing a war.

Domestic inflation reflects domestic monetary policy.

In a great financial emergency nearly every country has, at one time or another, been tempted to confuse the monetary with the fiscal functions of the Treasury. To borrow by the issue of money seems to have a seductive charm hard to resist.

All inflationary processes in history are related to political and moral crises.

The history of interest rates is really the history of inflation. When inflation is high, interest rates are high, and when inflation is low, interest rates are low.