--- title: "1 Government Money Quotes By James M. Buchanan" description: "1 Government Money quotes by James M. Buchanan. Plus more from James M. Buchanan and more Government Money sayings from other authors." image: "https://sms4smile.com/quotes/i/f57/james-m-buchanan-22792_balanced_i-have-long-been-in-favor-of-a-balanced_2216485.jpg" --- > [I have long been in favor of a balanced budget restriction at the level of the federal government of the United States. Because the federal government has money-creating powers it can, in fact, be very damaging if it runs a…](https://sms4smile.com/quotes/james-m-buchanan/i-have-long-been-in-favor-of-a-balanced-budget-restriction-at-the/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) [Image](https://sms4smile.com/quotes/i/f57/james-m-buchanan-22792_balanced_i-have-long-been-in-favor-of-a-balanced_2216485.jpg) ## More by James M. Buchanan > [Politicians and bureaucrats are no different from the rest of us. They will maximize their incentives just like everybody else.](https://sms4smile.com/quotes/james-m-buchanan/politicians-and-bureaucrats-are-no-different-from-the-rest-of-us-they/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [Politics is a romantic search for the good and the true and the beautiful.](https://sms4smile.com/quotes/james-m-buchanan/politics-is-a-romantic-search-for-the-good-and-the-true-and-the/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [People share a universal behavioural trait: if there are profits to be made, the effort to get that money will attract investment. This is…](https://sms4smile.com/quotes/james-m-buchanan/people-share-a-universal-behavioural-trait-if-there-are-profits-to-be/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [If you have an area where high-income receivers concentrate, you have a higher fiscal capacity. That fiscal capacity is a valuable resource and will…](https://sms4smile.com/quotes/james-m-buchanan/if-you-have-an-area-where-high-income-receivers-concentrate-you-have/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [How would the US be different today if people coming off the boat were greeted with a welfare check instead of a shovel?](https://sms4smile.com/quotes/james-m-buchanan/how-would-the-us-be-different-today-if-people-coming-off-the-boat/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [“The elementary and basic approach that I suggest places “the theory of markets” and not the “theory of resource allocation” at center stage. My…](https://sms4smile.com/quotes/james-m-buchanan/the-elementary-and-basic-approach-that-i-suggest-places-the-theory-of/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [It is much more difficult to get implemented politically what might be desirable economically. Even if you came out with an economic argument in…](https://sms4smile.com/quotes/james-m-buchanan/it-is-much-more-difficult-to-get-implemented-politically-what-might/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [You can get a coalition of senators from particular states in America, for example, who want to construct highways or dams or ports which…](https://sms4smile.com/quotes/james-m-buchanan/you-can-get-a-coalition-of-senators-from-particular-states-in-america/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [“Despotism may be the only organizational alternative to the political structure that we observe.”](https://sms4smile.com/quotes/james-m-buchanan/despotism-may-be-the-only-organizational-alternative-to-the-political/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [Imagine that Queen Elizabeth I, in her time, had the opportunity to give out a monopoly for playing cards within the kingdom. She knew…](https://sms4smile.com/quotes/james-m-buchanan/imagine-that-queen-elizabeth-i-in-her-time-had-the-opportunity-to/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [You have to have a government to provide you with legal order, with stability, enforcement of property rights, enforcement of contracts, definition of rules…](https://sms4smile.com/quotes/james-m-buchanan/you-have-to-have-a-government-to-provide-you-with-legal-order-with/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [The assumption that we can keep societies open and free to everybody is going to have to stop. We are going to have to…](https://sms4smile.com/quotes/james-m-buchanan/the-assumption-that-we-can-keep-societies-open-and-free-to-everybody/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [If you are going to spend for one group, you have to spend the same for every group, just like if you tax one…](https://sms4smile.com/quotes/james-m-buchanan/if-you-are-going-to-spend-for-one-group-you-have-to-spend-the-same/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [Liberals have lost the soul. We haven't recognized the necessity of defending our own system at the level of ideas. We have to get…](https://sms4smile.com/quotes/james-m-buchanan/liberals-have-lost-the-soul-we-haven-t-recognized-the-necessity-of/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) > [I think the world has changed dramatically since September 11th. It should force us to recognize that we are going to have to defend…](https://sms4smile.com/quotes/james-m-buchanan/i-think-the-world-has-changed-dramatically-since-september-11th-it/) [James M. Buchanan](https://sms4smile.com/quotes/author/james-m-buchanan/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/government-money/james-m-buchanan/#itemlist", "name": "1 Government Money Quotes By James M. Buchanan", "numberOfItems": 1, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "I have long been in favor of a balanced budget restriction at the level of the federal government of the United States. Because the federal government has money-creating powers it can, in fact, be very damaging if it runs a series of budget deficits. With the state government in the United States, they don't have money-creating powers. The automatic discipline imposed by the fact that they are in a common monetary unit and don't have control over the money power means that the balanced budget restriction is less needed.", "creator": { "@type": "Person", "name": "James M. 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