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Condoleezza Rice on Budget & Economy

Secretary of State


A nation losing control of finances loses control of destiny

When the world looks at us today, they see an American government that cannot live within its means. They see an American government that continues to borrow money, that will mortgage the future of generations to come. The world knows that when a nation loses control of its finances, it eventually loses control of its destiny. That is not the America that has inspired people to follow our lead.
Source: 2012 Republican National Convention speech , Aug 29, 2012

More spending cuts than tax increases

On the AmericansElect.org economy question, Dr. Rice chose 'B' from the list below, with a relative weighting of 15%:
Source: AmericansElect email questionnaire with Condi Rice's staff , Feb 13, 2012

Too much cut from international affairs budget

"We recognize the gravity of America's fiscal situation and that all programs must contribute their fair share to reducing our nation's debt," five former secretaries wrote in a letter to Congress. "Yet, the International Affairs Budget--only 1.4% of the federal budget--already received deep and disproportionate cuts this year." Former Secretaries Madeleine Albright, Colin Powell, Condoleezza Rice, George Schultz and Henry Kissinger signed the letter.
Source: Jamie Crawford in "CNN Security Clearance" , Nov 14, 2011

US has not lost its edge; problems will work their way out

Q: We watch our economy grow at just about 1% while China grows 12% and India grows 10%. The suggestion that America is less competitive or, worse, less important on the global world stage keeps coming up. Has America lost its edge versus competitors around the world?

A: I can count many, many times that people have said that America had lost its competitive edge. We had lost our competitive edge vis-a-vis Japan. We were a power that was over-stretched in the ‘80s. We were going to converge with the Soviet Union, by the way, in the 1970s. So there have been many premature sentences for America losing its competitive edge. We’re going through a difficult time in the economy; adjustments to a number of circumstances, including in the housing markets and in the financial markets, that will work their way out.

Source: CNBC interview on Maria Bartiromo show , May 23, 2008

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Page last updated: Mar 09, 2014