We're keen to highlight anytime a politician speaks economic truth. The below from a Republican speaking to Republicans generally bent on cutting public investments is especially note worthy. Eric Cantor speaking about the positive impact of innovation on economic growth and positive budgetary impact:
"Let's start to think long term, the fiscal hawks, if you will, they are very focused on cutting spending now. If you were to just grow the economy by one-tenth of one percentage point, go from 2.3 to 2.4 percent, according to [the Congressional Budget Office] … you would reduce the deficit over a 10-year period by $300 billion. You can't cut enough to have as much effect on the deficit as you could to start to grow this economy."
"There is probably nothing more stimulative in terms of economic growth than innovation ....That innovation comes from basic scientific research. That is the message that I would have: If we would start to take a longer-term look to create value long term, rather than always succumb to the siren of short-term gain."
Here, here.
"Let's start to think long term, the fiscal hawks, if you will, they are very focused on cutting spending now. If you were to just grow the economy by one-tenth of one percentage point, go from 2.3 to 2.4 percent, according to [the Congressional Budget Office] … you would reduce the deficit over a 10-year period by $300 billion. You can't cut enough to have as much effect on the deficit as you could to start to grow this economy."
"There is probably nothing more stimulative in terms of economic growth than innovation ....That innovation comes from basic scientific research. That is the message that I would have: If we would start to take a longer-term look to create value long term, rather than always succumb to the siren of short-term gain."
Here, here.
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