minimal impact but a positive impact. limited but positive, yes. ultimately, we ve got to deal with the enormous debt. i basically had a balanced budget, very slight deficit. and of course president bill clinton had a positive budget as well. but when ronald reagan came into office, he spent like a profligate and developed an enormous indebtedness, a deficit, and other presidents have done the same except for bill clinton. so now we owe about i think $14 trillion to american investors in bonds and also to foreigners like the chinese in particular. and that s and it s destined now if nothing changes to go up to more than $20 trillion in the next ten years. that s almost an unbearable burden of debt and interest 80s payments on the debt. so something s got to be done about that. but eventually, i think the congress will come to its senses. working with the president. and have a package both of
improve the economy? i think it will have a minimal impact but a positive impact. limited but positive, yes. ultimately, we ve got to deal with the enormous debt. i basically had a balanced budget, very slight deficit. and of course president bill clinton had a positive budget as well. but when ronald reagan came into office, he spent like a profligate and developed an enormous indebtedness, a deficit, and other presidents have done the same except for bill clinton. so now we owe about i think $14 trillion to american investors in bonds and also to foreigners like the chinese in particular. and that s and it s destined now if nothing changes to go up to more than $20 trillion in the next ten years. that s almost an unbearable burden of debt and interest 80s payments on the debt. so something s got to be done about that. but eventually, i think the congress will come to its senses. working with the president.
year. substantively, do you think that the policy will work to improve the economy? i think it will have a minimal impact but a positive impact. limited but positive, yes. ultimately, we ve got to deal with the enormous debt. i basically had a balanced budget, very slight deficit. and of course president bill clinton had a positive budget as well. but when ronald reagan came into office, he spent like a profligate and developed an enormous indebtedness, a deficit, and other presidents have done the same except for bill clinton. so now we owe about i think $14 trillion to american investors in bonds and also to foreigners like the chinese in particular. and that s and it s destined now if nothing changes to go up to more than $20 trillion in the next ten years. that s almost an unbearable burden of debt and interest 80s payments on the debt. so something s got to be done about that. but eventually, i think the congress will come to its senses. working with the president. and have
signs saying help me. hme. they were helping themselves, wd and what he did actually was actually even a big step forward. people were not the federalhe government at the time did not and solve these problems. he refraind from pouring federal money into it.asn hoover coordinated as he did in many cases food shortages throug through volunteerism.d coolidge also aposes federal ais to highways and such and taking money from one state, texas, ang giving it to new york orwhat whatever, you know. he this is what he said. to tempt the states by federal subsidies is to sacrifice their vested rights. it is not a whole some practice no matter how worthy the object to be obtained. it s it s just something which rewards the profligate and encourages waste.