Quote

Fiscal discipline can turn the economy around.

A wide range of possible fiscal policy tools and approaches could enhance the cyclical stability of the economy. For example, steps could be taken to increase the effectiveness of the automatic stabilizers, and some economists have proposed that greater fiscal support could be usefully provided to state and local governments during recessions.

The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.

As a fiscal conservative, I believe one of the most important roles the federal government can play in assuring that our economy remains strong is to keep our fiscal house in order.

When there's downward pressure on growth, one choice is to adjust economic policy, increase deficits, relax monetary policy. That might have a short-term benefit, but may not be beneficial for the future.

Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity.

Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.

I think achieving a higher fiscal stability is also a very important condition for restoring an environment which is conducive to growth.

Fiscal crises often turn into financial crises, dealing a blow to the real economy.

I think growing an economy is a good way to help with a deficit, but ultimately, it's about fiscal discipline and responsible spending - and smart decisions.