Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity.
Cloud computing eliminates capital expenditure, so you can go global very quickly - you don't have to have extensive servers in every country.
Tax expenditures for middle- and working-class Americans - like the earned income tax credit - aren't thought of as loopholes; they're just thought of as benefits.
It is plainly evident that, in a country where land was to be had for the asking, fuel for the cutting, corn for the planting and harvesting, and game and fish for the least expenditure of labor, no man would long serve for another, and any system of reliable service indoors or afield must fail.
Ten years ago U.S. defence investment represented almost half of all defence expenditure in the whole alliance. Today it is 75%. This increasing economic gap may also lead to an increasing technology gap which will almost hamper the inter-operability between our forces.
I hold it the duty of the executive to insist upon frugality in the expenditure, and a sparing economy is itself a great national source.
Everyone is always in favour of general economy and particular expenditure.
Because tax cuts create an incentive to increase output, employment, and production, they also help balance the budget by reducing means-tested government expenditures. A faster-growing economy means lower unemployment and higher incomes, resulting in reduced unemployment benefits and other social welfare programs.
Now we are raising the debt limit 3 times, up to $8 trillion, so that our children and our grandchildren will have to pay for the cost of our expenditures.
The construction of a courthouse is a long-term investment in a building where important public business is done. But that does not justify extravagant expenditures. Courthouses should be dignified, durable, and functional. They should not be grandiose, monumental, and luxurious.
