Arthur Laffer Quotes

You know, without China there is no Wal-Mart and without Wal-Mart there is no middle class and lower class prosperity in the United States.

With the shrinking of the US economy, and it’s shrinking very rapidly, you not only have more money, but you also have fewer goods. That’s a classic double-whammy on inflation.

When you look at the world, everyone in the world who cares about his or her family wants to have a major portion of their assets in the United States because we are the growth country and the freedom loving country.

What we’re talking about is the price of goods, all goods, in terms of money. That has nothing to do with unemployment, except for the fact that you get fewer goods. And when you have more money and fewer goods, the amount of dollars per good goes up. It goes up because there are fewer goods and it goes up because there is more money.

What I’m not saying is that all government spending is bad. It’s not – far, far from it, but there is no free lunch, as a former colleague of mine used to say. There is no public tooth fairy. Father Christmas does not work on the Treasury staff this year. You can never bail someone out of trouble without putting someone else into trouble.

We are having the single worst recovery the U.S. has had since the Great Depression. I don’t care how you measure it. The East Coast knows it. The West Coast knows it. North, South, old, young, everyone knows it’s the worst recovery since the Great Depression.