"We are shrinking the size of the federal government as a percent of our economy from over 21 percent of the economy to 19 percent of the economy. At the same time, we're growing the private economy"

The quote by Franklin Raines deals with a dual financial strategy including both governmental restraint and private sector encouragement. By "shrinking the size of the federal government as a percent of our economy from over 21 percent to 19 percent," he shows a strategic reduction in the federal government's share or influence over the total economy. This decrease doesn't always indicate a cut in outright spending however rather a decrease in the proportion relative to the overall growth of the economy.

This method may show a federal government intent on creating a more effective public sector, perhaps through cutting unneeded spending, increasing functional performances, or reallocating resources. Such a strategy often aims to lower financial deficits, lower nationwide debt levels, or respond to political and financial viewpoints that prefer smaller federal government functions in business and individual matters. It might likewise reflect an ideological shift towards free-market principles, emphasizing that resources are much better designated by the private sector than by the federal government.

Simultaneously, the declaration, "we're growing the personal economy," highlights efforts or conditions favoring economic sector growth. This development could be driven by policies that incentivize private financial investment, enhance entrepreneurship, decrease regulatory concerns or taxes, or enhance infrastructure and education supporting private efforts. The intent is likely to stimulate job creation, development, and capital investment, which collectively contribute to a robust financial environment.

The mix of decreasing government financial involvement while promoting economic sector growth aligns with the more comprehensive goal of accomplishing a balanced, resistant economy identified by effective government operations and vibrant economic sector activity. Additionally, this indicates a belief in the multiplier impact: as the private sector grows, it can soak up the functions previously held by the federal government, possibly resulting in greater total financial growth, increased efficiency, and improved quality of life for citizens. This method shows a nuanced balancing act targeted at sustainable economic advancement.