Ronald Reagan on balancing the budget

Ronald Reagan: When budget deficits are what's causing inflation, I don't see that there's any room to be on either side of that argument.  I think the answer to curing inflation is a balanced budget.  

Johnny Carson: Now how do you do that?  How do you balance the budget?  You don't spend more than you take in...

Reagan: Balancing the budget is like protecting your virtue.  You have to learn to say "no."

Carson: There's gotta be another way.  What's the second option?

~ Ronald Reagan, interview with Johnny Carson, The Tonight Show