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Quotes by Public Servants
If we hit the debt ceiling, that's... essentially defaulting on our obligations, which is totally unprecedented in American history. The impact on the economy would be catastrophic.
Austan Goolsbee
History
Obligations
Our
Would
Would-Be
Unprecedented
Impact
Totally
Catastrophic
Economy
Ceiling
Debt
Debt Ceiling
Hit
American
Essentially
American History
Which
Koch Industries is a multibillion-dollar business.
Austan Goolsbee
Business
Industries
And one cannot discharge the duty of loyalty without the patient and an open minded study of the institution that marked the country and defined its character.
Bainbridge Colby
Loyalty
Character
Country
Duty
Patient
Marked
Minded
Defined
Open
Study
Open-Minded
Institution
Discharge
Without
Cannot
A liberty subject to law and subordinate to the common welfare.
Bainbridge Colby
Liberty
Law
Welfare
Subject
Subordinate
Common
Thus, only in a hopeful and confident temper, in a proud and constructive spirit, will we rescue the present and safeguard the future of our beloved country.
Bainbridge Colby
Future
Will
Country
Our
Hopeful
Temper
Spirit
Only
Constructive
Thus
Safeguard
Proud
Confident
Rescue
Present
Beloved
Beloved Country
The ultimate purpose of economics, of course, is to understand and promote the enhancement of well-being.
Ben Bernanke
Economics
Promote
Purpose
Course
Well-Being
Understand
Ultimate
Enhancement
Only a strong economy can create higher asset values and sustainably good returns for savers.
Ben Bernanke
Good
Strong
Values
Strong Economy
Only
Higher
Economy
Returns
Create
Asset
The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
Ben Bernanke
Finance
History
You
Financial
Long
Lesson
Crisis
System
Financial System
Economic
Recovery
Economic Recovery
Get
Sustained
A gold standard doesn't imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
Ben Bernanke
Buy
Day
Every Day
People
Every
Price
Prices
Implies
Goods
Imply
Itself
Stability
Gold
Gold Standard
Standard
Services
History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.
Ben Bernanke
History
Financial
Smart
Side
Market
Collapse
Sector
Economy
Protect
Proves
Effects
Stock
Stock Market
Bank
Central
Central Bank
It takes about two and a half percent growth just to keep unemployment stable.
Ben Bernanke
Half
About
Percent
Takes
Unemployment
Stable
Just
Keep
Growth
Two
If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.
Ben Bernanke
Think
Tools
Federal
Federal Reserve
Cliff
Fiscal
Occurs
Offset
Reserve
Event
Remember that physical beauty is evolution's way of assuring us that the other person doesn't have too many intestinal parasites.
Ben Bernanke
Remember
Beauty
Too
Other
Assuring
Way
Evolution
Physical
Parasites
Person
Us
Many
Building a rainy-day fund during good times may not be politically popular, but it can pay off during the bad times.
Ben Bernanke
Good
Building
Pay
Bad
Bad Times
Good Times
Off
Times
May
Politically
Popular
Fund
Interest rates are used to achieve overall economic stability.
Ben Bernanke
Achieve
Rates
Economic
Overall
Stability
Interest
Interest Rates
Used
Textbooks describe economics as the study of the allocation of scarce resources. That definition may be the 'what,' but it certainly is not the 'why.'
Ben Bernanke
Economics
Resources
Definition
Scarce
Allocation
Study
Textbooks
May
Certainly
Describe
Why
There are limits to monetary policy.
Ben Bernanke
Policy
Limits
Monetary
Monetary Policy
The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.
Ben Bernanke
Financial
Stress
Fall
Beginning
Recession
System
Significant
Financial System
Threaten
Lead
Overall
Economy
Although
End
Did
Stability
Identity theft is a serious crime that affects millions of Americans each year.
Ben Bernanke
Crime
Year
Identity
Identity Theft
Affects
American
Theft
Each
Serious
Each Year
Millions
Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.
Ben Bernanke
Depression
Great
Financial
Result
Lasted
Despite
Great Depression
Severe
Financial Crisis
Crisis
Federal
Federal Reserve
Became
Importantly
Passive
Very
Quite
Mandate
Essentially
Reserve
I have spoken about deficits, and I think deficits are important because they address broad economic and financial stability. We need to talk about that.
Ben Bernanke
Financial
Important
Think
Broad
Address
Deficits
Financial Stability
About
Economic
Spoken
Talk
Because
Stability
Need
As an educator myself, I understand the profound effect that good teachers and a quality education have on the lives of our young people.
Ben Bernanke
Education
Myself
Good
Quality
People
Young
Our
Good Teachers
Quality Education
Understand
Educator
Effect
Young People
Teachers
Lives
Profound
The Fed needs an approach that consolidates the gains of the Greenspan years and ensures that those successful policies will continue - even if future Fed chairmen are less skillful or less committed to price stability than Mr. Greenspan has been.
Ben Bernanke
Future
Needs
Will
Approach
Those
Has-Been
Fed
Price
Policies
Continue
Been
Years
Than
Stability
Committed
Gains
Successful
Skillful
Less
Even
The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.
Ben Bernanke
Financial
Extraordinarily
Summer
Complex
Financial Crisis
Crisis
Causes
Began
Multiple
Event
Stronger regulation and supervision aimed at problems with underwriting practices and lenders' risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates.
Ben Bernanke
Management
Problems
Stronger
Increase
Approach
Would
Rates
General
Risk
More
Risk Management
Supervision
Bubble
Practices
Housing
Surgical
Been
Effective
Than
Interest
Interest Rates
Regulation
Many foreclosed homes are neglected or abandoned, as legal proceedings or other factors delay their resale. Deteriorating or vacant properties can, in turn, directly affect the quality of life in a neighborhood, for example, by leading to increases in vandalism or crime.
Ben Bernanke
Life
Legal
Quality
Crime
Delay
Example
Increases
Other
Neglected
Neighborhood
Abandoned
Vandalism
Deteriorating
Properties
Directly
Factors
Leading
For Example
Quality Of Life
Affect
Turn
Many
Homes
Vacant
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