The tenth amendment said the federal government is supposed to only have powers that were explicitly given in the Constitution. I think the federal government’s gone way beyond that. The Constitution never said that you could have a Federal Reserve that would have $2.8 trillion in assets. We’ve gotten out of control. David Malpass Read Quote
The Fed should make a clear commitment to stable money to reduce the swings in interest rates and inflation. Instead, it champions and flaunts unstable money. This encourages momentum trading and the growth of derivatives. Meanwhile, layers of financial regulation make Washington bigger and more powerful but don’t fix the underlying problems. David Malpass Read Quote
While Washington pays lip service to the challenges facing small businesses, it repeatedly chooses its own expansion over results. In effect, government has become a huge silent partner in all businesses, often taking a majority of the profits and forcing many unprofitable business decisions without the risk that it will be fired. David Malpass Read Quote
It’s not coincidence that the U.S. is in last place in the world in terms of corporate tax rate. It’s because our system is set up to block tax reform. David Malpass Read Quote
Every generation has an obligation to leave its children in a better position than it inherited. Our representatives in Washington are breaking faith with that covenant. America must reduce its federal spending and accumulation of debt for the sake of generations to come. David Malpass Read Quote
Already we’re seeing graduates of U.S. higher education going back to their home countries and contributing to societies there, where in the past they would have stayed in the U.S. and built new companies here. We have to have immigration reform that allows talented foreigners to become Americans. David Malpass Read Quote
