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Prudence is not the same thing as caution. Caution is a helpful strategy when you're crossing a minefield; it's a disaster when you're in a gold rush.

We need to resist the temptation to create more entitlements and more entitlements, which is one of the reasons we are heading recklessly toward fiscal crisis.

We are optimistic, but we are optimistic in a cautious fashion.

Without thinking or reflecting, we plunge into war, contract heavy debts, increase vastly the patronage of the Executive, and indulge in every species of extravagance, without thinking that we expose our liberty to hazard. It is a great and fatal mistake.

The policy of being too cautious is the greatest risk of all.

The unique danger today is the possibility that we may face longer-term stagnation as a consequence of relying too heavily on borrowed money.

As we try to make the financial system safer, we must inevitably confront the problem of moral hazard.

It is past time for Congress to get serious about our spending crisis and impose fiscal restraint.