David Malpass
4 quotes
Biography
David Robert Malpass is an American economic analyst and former government official who served as President of the World Bank Group from 2019 to 2023. He previously served as Under Secretary of the Treasury for International Affairs under Donald Trump, having served as an economic advisor to Trump during the 2016 U.S. presidential election; Deputy Assistant Treasury Secretary under Ronald Reagan; and Deputy Assistant Secretary of State under George H.
"I am encouraged to see South Africa taking steps to produce more electricity while finishing the closure of the 60-year-old Komati coal (power) plant. Moving toward an efficient lower carbon growth model will require large investments in new capacity and grid upgrades to absorb renewables. These are important steps to repair the ailing energy sector and provide reliable access to electricity for businesses and people. The Komati project recognizes the social challenges of the transition, especially for coal-reliant regions like Mpumalanga. Helping affected workers and communities is an important component of the project."
"The U.S. has a law on the books called the debt limit, but the name is misleading. The debt limit started in 1917 for the purpose of facilitating more national debt, not reducing it. It still serves that purpose. It's unconnected to spending, hurts our credit rating and has been an abject failure at limiting debt."
"Politicians are addicted to spending and revenue extraction. As with an addict, there's little pause for moral or legal contemplation."
"The tenth amendment said the federal government is supposed to only have powers that were explicitly given in the Constitution. I think the federal government's gone way beyond that. The Constitution never said that you could have a Federal Reserve that would have $2.8 trillion in assets. We've gotten out of control."