Deficit Quotations | Page 3

The deficit in 2006 is almost certain to increase, because the bulk of spending for Katrina and Rita will occur in 2006, ... What's worse is that when the Congressional Budget Office factors the Bush agenda into the budget, CBO sees the deficit doubling to $640 billion in 2015.

The deficit appeared to be wider than the market consensus but this is due mainly to the Lunar New Year holiday.

The fact that the overall effect of reconciliation taken together was to enlarge rather than reduce the deficit undermines the credibility of anyone claiming that this was a deficit-reduction package.

The fact of the matter is when our nation faces these type of emergencies, it unfortunately requires us to deficit spend. It's nothing that anybody in Washington, or anywhere for that matter, likes to do but it's necessary.

The federal budget deficit is the biggest single impediment to revitalizing the American economy.

We started to put our intuitions and our feelings aside in the second game. We could have gotten out of our deficit with the way we were starting to play. Sometimes Mother Nature steps in, and that can be a good thing. At least we walk out of here with a little pride in our pockets from performing at the end.

We should see a big increase in oil imports and, given the overall robust demand in the U.S., we are also going to see higher non-oil imports. Over the next few quarters, the deficit is going to get bigger.

We should not be cutting taxes by borrowing, ... We do not have the capability of having both productive tax cuts and large expenditure increases, and presume that the deficit doesn't matter.

We have concerns New Zealand will be able to fund its current account deficit so we see the New Zealand dollar weakening further.

We're looking at a $450,000 to $550,000 deficit right now.

When Republicans say, 'The first thing you do when you do deficit reduction is reduce rates,' it would be like Democrats saying, 'The first thing you do when you do deficit reduction is provide free Medicare at age 55.' We'd like to do that! But it won't bring the deficit down. That's for sure.

While net exports corroborate the bank's view that the external sector poses a downside risk, the fact that the record deficit was driven by stronger domestic demand, means that they don't feel the need to respond with lower rates for now.

We weren't able to find a flow until it was over. Last week, defense kept us in the game. But a 10-0 deficit (last Wednesday against Penn State) is more manageable than 28-4.

We can't read too much into any one month's deficit, and there were a bunch of unusual factors this time. But this shows that the deficit is increasing instead of decreasing. It raises concern that we need to start seeing adjustment in the global trade imbalances soon.

We have gotten used to this five million people unemployed, and to a public deficit that's 4 percent of GDP, and with a zero growth economy. Germany is still wealthy enough to maintain a European standard of living for the next 5 to 10 years.

We will continue to work for deficit reduction that will not burden farmers, particularly after the high fuel costs and extreme weather of the 2005 crop year, and without harming the mutually-beneficial relationship between farmers and food stamp families.

This report confirms the dramatic improvement in the 2005 deficit picture that the administration reported last month, ... The president is committed to the combination of strong economic growth and spending restraint that will keep us on track to cut the deficit in half by 2009.

The reason we've shifted to deficit spending is largely due to a shift from very robust economic growth and a booming stock market into a recession. The bottom line is, I'm not particularly concerned.

We kept it close most of the way. With less than eight minutes to go we had the deficit chipped down to eight. Then they went inside and ran away from us again. Every time we made a run, they made a concentrated effort to get the ball inside. Once they get inside, their big men are very hard to stop.

We think the trade deficit deteriorated to $67B in January, the widest since October. Petroleum imports likely rose by over $1B due to higher prices - up 6.4%. In real terms, imports were probably close to unchanged. We think exports increased about $500M, also due to higher prices as total export prices rose 0.7%. Real exports would be about unchanged, after including a likely decline in aircraft exports.

We think there is a potential deficit of electricity in the Northeast.

This trade deficit news certainly points in the direction that the U.S. economy is slowing.

We also know that our revenue stream is probably going to have a $750 million to perhaps $1 billion deficit because the southeast region produced an extraordinary amount of our revenue stream and that is in hard state dollars,

We had a deficit and could no longer afford to do what we have been doing. Last year, we laid several employees off. In 2006, we're no longer in deficit spending mode, but we've lost critical programs and services, so now we'll ask the voters to change that.

We had a $10 billion budget deficit when we got here in January of 2003. We cut that budget deficit; we did not raise taxes; we came back in '05, and we had an $8 billion surplus. That's how fast it can happen.

With all these new programs, the administration's contention that the deficit will be cut in half in the next five years is a tall tale, derived in large part by omitting very likely or inevitable costs, including costs for proposals the administration itself hopes and intends to support.

Yet, with the underlying sentiment toward the dollar being shaky at the moment, the trade report could shift market attention to deficit problems in the US and spark some dollar selling.

There are several factors weighing on the dollar, among them the weak retail sales data and the feeling that Alan Greenspan was backtracking from his recent optimism on the U.S. economy. Greenspan's mention of the U.S. current account deficit has focused market attention on the problems associated with a strong dollar policy, particularly given the recent imposition of tariffs on U.S. steel imports.

We have to change directions back to the period of time when we made the tough choices, eliminated the deficit and created the surplus.

This was a heck of a comeback from that kind of deficit against a team that controls the game. You just can't give anybody that kind of lead and expect to come back, but we just keep plugging away and as long as we get Gerry some looks he's going to make his share.

The only thing that the Fed can do to correct the current- account imbalance is to slow the U.S. economy. If you are adding up reasons for why the Fed will keep on tightening, the current-account deficit is on that list.

This shows our big reliance on imports and foreign capital. As the dollar weakens, that becomes a more and more expensive habit. It makes our imports more expensive, makes the trade deficit wider, makes us even more dependent on foreign capital, weakening the dollar, on and on -- it's a vicious cycle.

When you look at the state of the economy right now, you have to set a priority. And my top priority is the deficit of jobs and economic growth, and especially this perception that the United States could be falling behind especially Asian economies.

What's hurting the U.S. economy is total government spending. The deficit is an indicator that the government is spending so much money that it can't even get around to stealing all of the money that it wants to spend. But the tip of the iceberg is not what hit the Titanic - it was the 90 percent of the iceberg under water.

With the charges we've taken for the recall I would expect the unit would not be profitable for the year, ... We've taken substantial charges for the recall that will probably put us in a deficit position.

We have made substantial investments in the region, and our new deficit projections will include costs of Katrina and Rita recovery. We believe that those increased outlays associated with the Katrina recovery efforts are a temporary event.

We must also redouble our efforts to reduce unnecessary spending elsewhere in the budget to help offset recovery costs and keep us on track of meeting the president's gal of cutting the deficit in half by 2009,

When the federal government increases the budget deficit it increases interest rates on everybody, so it is like a tax increase on borrowing. What that means is that mortgages will be more expensive.

Exports are off in virtually every category. I don't see much near-term improvement for the trade deficit. The trade deficit will probably shave about 0.5 percent off of third quarter Gross Domestic Product.

Export growth will remain solid in the months immediately ahead, which ought to help blunt (but not fully offset) the detrimental effect on the trade deficit of a likely acceleration in import growth.

The goods and services deficit will continue to widen, especially since after Katrina the United States will be importing more energy products at higher prices.

The government is now attempting to fashion a more effective tax policy to rein in the budget deficit and contain debt.

The good news is that with the 30 million-barrel sale of SPR oil, I don't think we will have much of a deficit in crude oil production.

We need to see imports soften off if we are ever going to solve the current account deficit problem. That's why we've seen the currency respond to the wider deficit. It's worrying that the current account deficit will stay large.

The government's plan to cut the deficit will pay off if the economy continues to accelerate. The budget deficit next year, which would be the lowest since 1980, means there won't be pressure on rates to rise.

Yes, we should consider ways to address the deficit and bring real, direct relief to the gulf region, ... but we must not lose sight of maintaining the infrastructure that supports our economy and way of life.

While this year's deficit will be lower than last year's record shortfall, the improvement is likely to be short-lived. Declarations of victory over budget deficits only distract from the disturbing long-term budget outlook,

While the US trade deficit showed an unexpected improvement in February, any lasting market enthusiasm was firmly misplaced. Energy prices continue to rise while China remains resistant to further currency flexibility.

While there is no question that the sponsor is responsible for any deficit in the plan, it is not at all clear that the sponsor benefits from any surplus that may be generated.

While there are no easy solutions to this problem, the Deficit Reduction Act gets us started in the right direction by beginning with the most obvious, commonsense reforms to save taxpayer dollars.

You can't blame it all on energy because the trade deficit excluding petroleum rose faster than the overall deficit. The main culprit once again continues to be that imports are growing faster than exports.

We had a hard time scoring today. We're not the type of team that's made to come back from a big deficit like that, and once we got down 13 or 14, it was hard to come back.

The public does not translate the deficit into something that really bites them. We are going to have to get public support for action on the deficit.

Those ratings have come from fundamental improvements in monetary and fiscal policy. Deficit spending has declined considerably in emerging-market countries.

This team is not one that's going to roll over and go away. We're going to scratch, we're going to claw, we're going to put good at-bats together, try to get a couple of runs here and there, bite into the deficit a little bit and punch ahead. Tonight it worked out.

This was the first time that the January budget has been in deficit since 1992.

What precipitated the S&L crisis (is that) depositors had the right to go into the S&L and demand their deposits back today. The (agency's) deficit would be paid out decades into the future. A retiree can't go to the (agency) and say, 'Give me my money today in a lump sum,'

What is likely to happen as a result of strength in the economy, I think government revenue will continue to exceed expectations, which means the budget deficit will come down faster. That is a marginal plus.

We don't really know what the current operating deficit it is,

Within a few months, the deficit will be widening to new records.

With imports now more than one third higher than exports, it will take a sharp reversal in these growth rates for the trade shortfall to narrow on a sustained basis. Although the U.S. economy is slowing and international economic activity is accelerating, it is unlikely that the trade deficit will narrow anytime soon.

We were looking at a deficit when we were working on that budget. The question to the Highway Patrol team that was looking at it was -- how much can you spend between now and May, and the answer was basically $8 million.

What the current deficit does is make the dollar vulnerable. It means we could see a vicious cycle, where a declining dollar makes U.S. assets less attractive to foreign investors, which weakens our assets further, which puts further pressure on the dollar.

What's going on with short-term deficit is minor compared to the problem that is looming. But if they're ignoring the big problem, it's not surprising they're ignoring the near-term issues.

We improved in May, but it looked too good, so we may have some payback and that could move the market. The possibility of a record deficit would be a shock. It's a negative risk for the equity market.

We're very much part of the team of reducing the deficit in half by 2009.

We say that if our team plays with intensity, we are a tough team. When we turned it on, we saw the results. We cut an 18-point deficit into an overtime game.

This situation suggests that international investors will eventually adjust their accumulation of dollar assets or, alternatively, seek higher dollar returns to offset concentration risk, elevating the cost of financing of the U.S. current account deficit and rendering it increasingly less tenable,

To be down by that deficit and to hold that team to 35 points in the first half, we thought, OK, we've got them where we want them.

We cut the lead to 12 by the intermission and our goal was to get the deficit down to six before the fourth quarter. I had no idea we would actually lead by 12 after the third quarter.

Both have probably as their biggest accomplishment deficit reduction. Both re-appointed Alan Greenspan to the Fed, both pursued free trade through NAFTA and the GATT.

Believe it or not, this is a seriously encouraging report. There is a very good chance the underlying deficit has now peaked.

Everything has to go right for you to come back from a deficit like that and it almost did,

As the news this morning of increased joblessness and earlier reports of exploding deficit and debt reveal, the president's economic policy is a disaster. Obviously, the secretary of the treasury and Mr. Lindsey are being sacrificed to protect the president. Sadly, the removal of these economic officials will do nothing if they are simply replaced with yes-men committed to the president's relentlessly partisan agenda of pushing tax cuts at the expense of all else.

As the U.S. trade deficit becomes more and more of a concern, the currency issue and intellectual property are both tougher issues to crack than textiles,

As the U.S. trade deficit, and the portion of that deficit attributed to China, continue to grow, our own economy is at risk of losing its reputation as a leader in world trade.

As the U.S. external deficit rises, so does the risk of a hard landing for the dollar, the U.S. economy, and the world economy.

As the U.S. did during the Space Race, we must invest in our businesses and intellect to ensure America leads the clean energy economy of the future. As we all know, the best way to reduce our deficit and bring down our debt is by putting Americans back to work.

As the US deficit continues to be financed easily, the optimists who think there is nothing to worry about are gaining ground over the pessimists who think an abrupt and costly adjustment is likely. But the optimists have to be right every day while the pessimists need to be right only once.

Copper is showing very strong performance as mine disruptions take place and are likely to continue. With copper looking set to remain in deficit this year and next, any supply problems are keenly felt.

Comprehensive immigration reform would reduce the deficit and help grow the economy.

Cutting the deficit next year isn't impossible, but it's not going to be easy in the current political setting.

Currently the federal government does share royalties with coastal statesmore than $3 trillion to date, in fact. Changing this amount only increases the budget deficit and diminishes the benefit the rest of the nation receives from these national resources.

As I look at my nation, I am generally impressed by the physical courage of its citizenry but distressed by the lack of intellectual or moral courage. I think this is important because most quotes about bravery refer to physical courage. Yet if my nation is to go down the tubes, I suspect it will be more because of a deficit in its intellectual bravery.

Early next week you've got a trade deficit number and retail sales, and those reports could be volatile.

Establishing a 0.03 percent Wall Street speculation fee, similar to what we had from 1914-1966, would dampen the dangerous level of speculation and gambling on Wall Street, encourage the financial sector to invest in the productive economy and reduce the deficit by more than $350 billion over 10 years.

Even an 8% current account deficit failed to dent it significantly, which is surprising.

Folks are trying to do away with it because they want the money for deficit reduction.

There's strong bipartisan concern that this growing trade deficit with China is a serious problem.

There's not a lot of relief in sight. I would not be surprised to see the monthly deficit go above $60 billion by fall, and stay there.

There's no evidence that foreigners are tiring of US assets. The US trade deficit is more than being financed by foreign investment. This continues to underpin the dollar.

The trade deficit will gradually narrow, but you'll still see a reasonably firm clip continue in imports as investment is going to remain strong.

The trade deficit will eventually be a factor in weakening the dollar.

The trade deficit will be couched in terms of outsourcing. If you look at trade itself, it doesn't capture a lot of attention until it spills into the question of losing jobs overseas,

The trade deficit widened to a record in September, as expected. But it wasn't the oil story we were all looking for. Instead, it boils down to Boeing and Airbus, with the European firm holding the cards this time around,

The trade deficit seems to only get bigger and never recede. The reasons are clear, oil prices are up, foreign growth is still relatively weak and US growth is strong. There is no reason to forecast a lower deficit.

The trade deficit seems to only get bigger and never recede.

The trade deficit is much more responsive to the growth and consumption differential than to exchange rates.

The trade deficit is improving, but not as fast as today's figures suggest.

The trade deficit, if you can still use the term deficit to describe the GDP of a small country, just keeps getting wider. This is the Energizer bunny on steroids as it keeps growing and growing and growing.