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It is a sound principle of finance, and a still sounder principle of government, that those who have the duty of expending the revenue of a country should also be saddled with the responsibility of levying and providing it.

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I believe in capitalism for everybody, not necessarily high finance but capitalism that works for the working men and women of this country who are out there paddling alone in America right now.

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To finance deficits, the government must sell bonds to investors, competing for capital that could otherwise be used to invest in stocks or corporate bonds. Government borrowings raise long-term interest rates, stifling economic growth.

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