Arthur Laffer

The truth of the matter of is that stimulus money not only doesn't stimulate; it actually reduces output. ”

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. ”

I mean, everyone agrees with stress tests for banks. I mean that's clear. But banks should do that on their own. And they should worry about their own capital functioning. That's what they should do. It shouldn't be a government function. ”

Which would you rather have, capital lined up on your borders, trying to get into your country or trying to get out of your country? We are the capital magnet of this planet and we are the savior for not only people, for not only freedom, but also for capital. ”

The trade deficit is the capital surplus and don't ever think of having a capital surplus as being a bad thing for our country. ”

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. ”

I think the inflation prospects for the U.S. over the next five or six, seven years, are quite serious. You cannot have a bumper crop in apples without the value or the price of each apple falling. The Fed has had the largest increase in the monetary base in the history of the U.S., from colonial times to the present, times ten. ”

I've been truly blessed. I've been a fly on the wall of history. I've been just so many lucky places just by chance and serendipity, and obviously a huge portion of that serendipity had to do with my relationship with the real president, Ronald Reagan. ”

Raising taxes is not a frivolous venture that you do on the editorial page of 'The New Republic,' for god sakes. It's something that you really have to think about and go through carefully. ”

And let the Fed sell bonds to bring bank reserves back down to required reserve levels, so we have restraint on bank lending and bank issuances of liability. ”