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Time For Truth
The former Secretary of the Treasury speaks of the strong connection between economic and political freedom and warns that America is losing both in the wake of the expanding state
Mass Market Paperback
First published January 1, 1978
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About the author
William E. Simon
14 books7 followersBusinessman, U.S Secretary of Treasury from May 9, 1974 till January 20, 1977. The William E. Simon Foundation carries on this legacy. In 1977, Simon received the Alexander Hamilton Award, the Treasury Department's highest honor.
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Displaying 1 - 9 of 9 reviews
September 29, 2013
Bill Simon was irascible and difficult to work for, but this great book stands as a monument to his clear vision about the economic problems confronting this country. It's sad that in the thirty-five years since Simon wrote the book, not only have the problems he identified not been solved, but in fact they have worsened. Were he alive today, even Simon, a fighter, might have contemplated throwing in the towel. Unfortunately, then, the book is as relevant today as it was when first published.
Simon calls on his experience as Treasury Secretary under two presidents (Nixon and Ford) to illuminate the rise of egalitarianism (as opposed to equality), excess regulation and a consistent failure to control government expenditures. (It's interesting to note that Simon was horrified that "During the single decade 1968-77 the cumulative federal deficits totaled more than $ 265 billion." We have larger deficits than that in three months now. He also notes that in 1975 the "... budget deficit soared to $ 66 billion, the highest in peacetime history." Those were the good old days.
Surprisingly, Simon despaired of righting the ship by electing legislators who would control spending and regulation; he believed that even those who might be inclined to do so would be inevitably compromised by the system. Instead, he called for an all-out information and education effort to re-instill the principles of individual responsibility and freedom in the American people. This seems quixotic. I fear we are past the point where that approach could work (if it ever could have), and probably now even past the point where it is possible to elect a majority, much less a veto-proof majority, of legislators who can make a difference, which in the not too far distant past, might have been possible.
Simon spent a good while analyzing the New York City default on its debt in the mid-70s. He noted that NYC's financial collapse stemmed from the same abuses that are present now in the federal government, but that the federal government has more staying power because it can print money. He was so right, but even that party can't last forever. When it ends, it will end suddenly, as all bubbles do. And, once again, most people will say, "Why didn't we see this coming?"
Simon calls on his experience as Treasury Secretary under two presidents (Nixon and Ford) to illuminate the rise of egalitarianism (as opposed to equality), excess regulation and a consistent failure to control government expenditures. (It's interesting to note that Simon was horrified that "During the single decade 1968-77 the cumulative federal deficits totaled more than $ 265 billion." We have larger deficits than that in three months now. He also notes that in 1975 the "... budget deficit soared to $ 66 billion, the highest in peacetime history." Those were the good old days.
Surprisingly, Simon despaired of righting the ship by electing legislators who would control spending and regulation; he believed that even those who might be inclined to do so would be inevitably compromised by the system. Instead, he called for an all-out information and education effort to re-instill the principles of individual responsibility and freedom in the American people. This seems quixotic. I fear we are past the point where that approach could work (if it ever could have), and probably now even past the point where it is possible to elect a majority, much less a veto-proof majority, of legislators who can make a difference, which in the not too far distant past, might have been possible.
Simon spent a good while analyzing the New York City default on its debt in the mid-70s. He noted that NYC's financial collapse stemmed from the same abuses that are present now in the federal government, but that the federal government has more staying power because it can print money. He was so right, but even that party can't last forever. When it ends, it will end suddenly, as all bubbles do. And, once again, most people will say, "Why didn't we see this coming?"
March 4, 2014
As a deeply immersed, experienced administrator, Simon lays bare the misguided and counter-productive policies of government committed to anti-freedom socialism. It is chillingly direct and even frightening that it is happening among ourselves and not only in some far-away place and time.
September 22, 2014
A most amazing example of New Right philosophy (primary document). Its blindness to its own contradictions and seemingly oblivious elitism and authoritarianism is typical of that movement and the "prophet" for whom it called, Ronald Reagan. Fantastic example of neocon double-speak.
December 23, 2017
This was a phenomenal book. This should be required reading in every high school/college. It is dated (1977 I believe), but that just goes to show that America has become even more socialistic since then. William Simon does a great job showing not just why leftist economic policy hurts, but he shows HOW it hurts as well. He gives great economic advice and backs it up with history and fact.
This book goes a long way to discredit the idea that government can solve social problems. Government is not the answer. Government regulation is a problem, not a solution. This book won't be popular among leftists, but neither can it be refuted.
Simon gives a great example from the Oil Crisis in the 70s. He also talks about how New York City went into bankruptcy because of their liberal economic philosophy. He also then uses the USA as a macrocosm of what happened to New York. Unless something drastic changes, the USA will default one day.
Fun note--when Simon wrote (1977) the USA debt was around 600 billion, and he was very upset about that and noted how it was increasing at a frightening rate. Well, I wonder what he would say now that Obama increased our national debt form 7 trillion to 19 trillion. Well done liberals.
This book goes a long way to discredit the idea that government can solve social problems. Government is not the answer. Government regulation is a problem, not a solution. This book won't be popular among leftists, but neither can it be refuted.
Simon gives a great example from the Oil Crisis in the 70s. He also talks about how New York City went into bankruptcy because of their liberal economic philosophy. He also then uses the USA as a macrocosm of what happened to New York. Unless something drastic changes, the USA will default one day.
Fun note--when Simon wrote (1977) the USA debt was around 600 billion, and he was very upset about that and noted how it was increasing at a frightening rate. Well, I wonder what he would say now that Obama increased our national debt form 7 trillion to 19 trillion. Well done liberals.
May 4, 2018
This is a easy to read critical assessment of government and business. Simon argues that government is the root to our economic problems that can be fixed with limited government and reliance on free-enterprise. The points he makes are not new. Conservatives and libertarians will find much to agree with, and liberals and progressives, such as myself, will find much to disagree with. What I found most interesting is Simon's experience with Congress, particularly within days of his start as Nixon's Secretary of the Treasury. His experience of having to answer questions in front of a congressional committee supports his view about problems with government. It did not matter that he was Secretary for only a few days, the committee followed a script and it's doubtful his responses mattered at all. It's now 34 years later and it seems our government is only more dysfunctional. Simon's criticisms remain as valuable today.
May 19, 2021
Self regarding, portentous tripe.
February 19, 2016
A fairly clear and intense view of the American economic policies of the twentieth century and specifically those of the 1960's and 70's and what went wrong. Simon answers the question of why we in the USA are running such a huge deficit in our government. He also tells the story of how New York City practically went bankrupt during the 1970's and what caused it to happen.
His message could just as well be written today because it still applies. The road that the USA started down during the New Deal era in the Thirties is the road that we are still on, is the road towards the destruction of our economy and our freedom. Read this book and educate yourself about what is going on in America today!
His message could just as well be written today because it still applies. The road that the USA started down during the New Deal era in the Thirties is the road that we are still on, is the road towards the destruction of our economy and our freedom. Read this book and educate yourself about what is going on in America today!
November 5, 2010
I liked this novel much better than Hardy's Jude the Obscure. According to the preface, Hardy wrote JtO later in life when events contrived to turn him into a rather bitter old grouch. Far from the Madding Crowd is a delight...intriguing characters, lovely descriptions of English country life and a disarming turn of events. The novel centers around the beautiful Bathesheba Everdene, an independent farmer who is convinced that marriage is not a contract she is ready to take part in. She turns down invitations from two suitors, both hopelessly in love with her, but then along comes Sergeant Francis Troy. It is a rich little story, both shocking, yet amusing.
June 4, 2009
Excellent.
Displaying 1 - 9 of 9 reviews