American - Economist | March 8, 1956 -
While Washington pays lip service to the challenges facing small businesses, it repeatedly chooses its own expansion over results. In effect, government has become a huge silent partner in all businesses, often taking a majority of the profits and forcing many unprofitable business decisions without the risk that it will be fired.
David Malpass
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The Fed should make a clear commitment to stable money to reduce the swings in interest rates and inflation. Instead, it champions and flaunts unstable money. This encourages momentum trading and the growth of derivatives. Meanwhile, layers of financial regulation make Washington bigger and more powerful but don't fix the underlying problems.
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Politicians are addicted to spending and revenue extraction. As with an addict, there's little pause for moral or legal contemplation.
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Every generation has an obligation to leave its children in a better position than it inherited. Our representatives in Washington are breaking faith with that covenant. America must reduce its federal spending and accumulation of debt for the sake of generations to come.
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