MATTHEW YGLESIAS

spots

a few choice quotes from yesterday's Republican presidential

debate

Rudy Giuliani on whether or not it's a problem that China owns so much of our federal debt: "The way to balance to books is to sell more overseas -- sell energy independence, sell health care."



John McCain on monetary policy: "I'm glad whenever they cut interest rates, I wish interest rates were zero."

Dangers of a weak dollar is that it will damage us internationally. We've got to have a strong dollar because of the creditors that we have there. It helps our exports to a certain extent now, and we're enjoying that part of it.



But any president of the United States has to stand behind a strong dollar. The whole world needs to know that we are good for our obligations.

What's happening is there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the people who get to use the money first, which is created by the Federal Reserve System, benefit, so the money gravitates to the banks and to Wall Street. See, that's why you have more billionaires than ever before.

Another one he should veto is the SCHIP program, which we should say -- take the "C" out of because now it's for everybody, like every other entitlement program. And by the way, a dollar a pack increase for cigarettes? So we want to take care of children's health and we want everybody to smoke? I don't get it.

Those were, by no means, the only regrettable economic statements of the day. We have Fred Thompson, for instance, noting:And here's Congressman Ron Paul:And this, from Senator McCain, is my favourite, I think:Say what you will about the interventionist tendencies of the Democratic candidates. The level of economic illiteracy on display in the Republican field should be a source of deep concern.