"[W]e cannot afford to reduce taxes, reduce income, until we have in sight a program of expenditures that shows that the factors of income and of outgo will be balanced." - Dwight D. Eisenhower
Via Corey Robin's essay on the evolution of Republicans from a party of austerity to one of magical underpants gnomes (i.e. step 1: cut taxes, step 2: ???, step 3: profit).