Fiscal Flexibility Quotes

It is extremely difficult to rescind entitlements to which people think they are legally entitled. Taxes can easily go up and down. There isn’t the same political pressure.

The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.

At the same time the Constitution sets in stone the Stability Pact and risks preventing member States from implementing a policy of growth. So we are not able to do things at the European or the national level.

With a post Brexit economic policy that sets our economy and country on the right track, with new freedoms, the U.K. will exercise greater fiscal flexibility and regulatory reform to transform our country into a dynamic engine of prosperity, job creation and growth.

A behemoth budget does not mean there is much discretion in allocating it.

Governors would like the money to be left on a stump and let them come and pick it up and spend it where they want. Governors like to spread money around rather than target it.

Our ability to estimate our deficit 20 years out is nil. We should not twist our economy like a pretzel over such an projection…. Growth in the short run raises the level of long run potential.

What I support is moving Medicaid to block grants so that the states can drive that process.

When I work with countries struggling to pay for budgets or finance trade deficits, I reflect on how Americans do not spend a moment considering the unique advantages of being able to issue bonds and print money freely.

I believe that if we are able to, obviously we need to ensure that we have a robust budget that's balanced, but there's no way I would ever accept austerity.

It is not in our interest to sign economic policy agreements with the IMF, as that unnecessarily limits the room to manoeuvre of... the Hungarian government, Hungarian parliament and lawmakers.

If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold.