The Worst Financial Advice From (Past and Present) Presidential Candidates
Worst Financial Advice From Presidential Candidates
Believe it or not, presidential candidates, and presidents for that matter, regularly say things that are false, outrageous, and sometimes downright stupid regarding our free land. Here are 15 quotes featuring the worst financial advice from presidential candidates past and present.
1. Grover Cleveland
Grover Cleveland was President from 1885 to 1889 and from 1893 to 1897, making him the only president to serve non-consecutive terms. Cleveland was a proponent of fiscal conservatism, which is a philosophy that calls for low taxes, reduced government spending, and minimal government debt.
2. Herbert Hoover
“Blessed are the young, for they shall inherit the national debt.” This one seems like a satirical comment more than a serious one, but it is still poor financial advice and national policy. The implication is that the current generational leaders do not need to worry about their decisions.
3. Ronald Reagan
We have two entries from everyone’s favorite actor turned President, Ronald Reagan. Reaganomics has had a huge impact on the economic and financial policies of our nation and continues to perpetuate the idea that benefiting the wealthy will somehow trickle down through the classes.
4. Bill Clinton
Speaking to a crowd in Buffalo about a surplus, Clinton argued against returning the surplus to general tax relief because he did not think people would spend it wisely. Instead, Clinton proposed the government investing that money to bolster Social Security.
5. Al Gore
“A dog’s healthcare costs less than my mother-in-law’s!” This quote came as he was trying to give a personal example of the high cost of healthcare and prescription medication, but this comparison ended up being kind of silly.
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