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Economic News, Data and Analysis

Mack On Taxes

Connie Mack, Retired GOP Senator doesn’t seem too worried about the deficit…

Taxing Issues – New York Times
[…]
Q: Well, the U.S. government has to get money from somewhere. As a two-term former Republican senator from Florida, where do you suggest we get money from?
A: What money?
Q: The money to run this country.
A: We’ll borrow it.
Q: I never understand where all this money comes from.
When the president says we need another $200 billion for Katrina repairs, does he just go and borrow it from the Saudis?
A: In a sense, we do. Maybe the Chinese.
Q: Is that fair to our children? If we keep borrowing at this level, won’t the Arabs or the Chinese eventually own this country?
A: I am not worried about that. We are a huge country producing enormous assets day in and day out. We have great strength, and we have always adjusted to difficulties that faced us, and we will continue to do so.
[…]

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Filed under: Economics

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