Borrowing Quotes



Search Results (81)

Quote Author Cited
... maybe we can all agree on one lesson from the Greek crisis, namely that, to maintain a friendship, you should lend only as much money as you are ready to give away anyway. Jochen Bittner
In a great financial emergency nearly every country has, at one time or another, been tempted to confuse the monetary with the fiscal functions of the Treasury. To borrow by the issue of money seems to have a seductive charm hard to resist. J. Laurence Laughlin
We are spending a little more than we are raising each year and you wonder how long it can go on. It is too easy for us to borrow. Paul A. Volcker
The rich rules over the poor, and the borrower is servant to the lender Book of Proverbs; Solomon
He smote the rock of the national resources, and abundant streams of revenue gushed forth. He touched the dead corpse of Public Credit, and it sprung upon its feet. Daniel Webster
In a free and democratic society, borrowing is one of the inalienable rights of human beings. The Government will never dictate when to lend, when to borrow. Sali Berisha
Let us all be happy and live within our means, even if we have to borrow the money to do it with. Charles Ferrar Browne; Artemus
The best way for the Government to maintain its credit is to pay as it goes—not by resorting to loans, but by keeping out of debt. Grover Cleveland
It never occurred to any of us to consult in this emergency farmers, doctors, lawyers, shoemakers, or even statesmen. We could not escape the belief that the prospect of obtaining what we needed might be somewhat improved by making application to those whose business and surroundings qualified them to intelligently respond. Grover Cleveland
Borrowed money, even when owing to a nation by another nation, should be repaid. They hired the money, didn't they? Let them pay it. Calvin Coolidge
The British Government Montagu Corry
Treasury notes are a precarious substitute either for coin or for bank notes, charges as they are with a growing interest, productive of no countervailing profit or emolument, and exposed to every breadth of popular prejudice or alarm. Alexander James Dallas
People who wouldn’t think of raising taxes think there’s nothing wrong with mortgaging the future of their state Alan Ehrenhalt
If you lend money to any of my people that is poor by you, you shall not be a usurer to him, nor shall you lay upon him usury. Book of Exodus
I do not pretend to step out of my own sphere and to control the internal management of other departments, but it seems to me that as Secretary of the Treasury, I may ask, that, while peace continues, the aggregate of the expenditure of those departments be kept within bounds such as will preserve the equilibrium between the national revenue and expenditure without recurrence to loans. Albert Gallatin
Blessed are the young, for they shall inherit the national debt. Herbert Hoover
The banks have discontinued themselves. We are now without any medium … necessity, as well as patriotism and confidence will make us all eager to receive Treasury notes if founded on specific taxes. Congress may now borrow of the public, and without interest, all the money they may want … by merely issuing their own promissory notes …. Thomas Jefferson
I wish it were possible to obtain a single amendment to our constitution ... an additional article, taking from the federal government the power of borrowing. Thomas Jefferson
God has permitted buying and selling and forbidden usury …. those who revert to usury are doomed to everlasting hellfire … Muhammad
As an individual who undertakes to live by borrowing, soon finds his original means devoured by interest, and next no one left to borrow from—so it must be with a government. Abraham Lincoln
International debts are like bills submitted to pay for the damage done on a wild party by one's grandfather. The payment seems to the debtor like pure loss, and when it is paid by one nation to another it seems the tribute by the conquered to the conqueror. Walter Lippmann
[Woodrow Wilson] could state a principle better than the expert from whom he had borrowed it. Walter Lippmann
Those who say we can continue to indefinitely borrow from our children and grandchildren and generations to come in fact are eroding our ability to do what we ought to do in education, in health care and in other things. Paul Simon
To deal with entitlements we must either raise taxes, cut benefits, or borrow inordinate amounts of money. Peter G. Peterson
Capitalism is that form of private property economy in which innovations are carried out by means of borrowed money. Joseph A. Schumpeter
Debt is more of a problem for Blacks than racism. Being in debt is being in slavery. DeForest Soaries
Whenever you borrow money, the people you borrow it from have leverage over you. John Thune
Wars have been fought with borrowed money ever since Rome instituted the practice of forcing its richer citizens to loan the state money to help fund the conflict with Carthage in the third century BC. John Steele Gordon
A national debt, properly funded and serviced, can be a potent instrument of national policy. John Steele Gordon
Moses (that wise Legislator) in his forbidding the Jews to lend money one to another, and permitting them to lend their money to Strangers; ordained that Law as much to a Political as a Religious intent; knowing that by the latter they should enrich their own Nation, and by the former no publick good could ensue; the consequences being only to impoverish one Jew to make another rich. Josiah Child
Interest is the invention of Satan Thomas A. Edison
I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men Woodrow Wilson
I think that this is the most significant financial crisis in the post-War period for the United States, and it has in fact a global reach. . . . I think it is extraordinarily important to understand that, as we have seen in many previous examples of different countries and different times, choking up of credit is like taking the lifeblood away from the economy. Ben Bernanke
Government should adjust its rates of expenditure and taxation such that total spending is neither more or less than that which is sufficient to purchase the full employment level of output at current prices. If this means there is deficit, greater borrowing, "printing money," etc., then these things in themselves are neither good or bad, they are simply the means to the desired ends of full employment and price stability. Abba Ptachya Lerner
We have Triple A Credit but we do not have a Triple A Government Barack Obama
When it was necessary to raise money for the prosecution of the war, and a loan was sought of two hundred millions of dollars, more than fourteen hundred millions were subscribed by the people of the United States, and for the first time in our history your government my government sells a three-per-cent. bond, a bond which sold at par, which is now worth a premium of five cents on every dollar, which profit has gone to the people. For it was a popular loan, and no citizen was able to receive more than five thousand dollars worth of bonds. William McKinley
We have to make debt evil. Douglas Holtz-Eakin
Experience shows that high and unstable inflation can harm growth. A noninflationary macroeconomic policy is, therefore, a prerequisite for rapid development. Control of government borrowing is the crucial element in such a policy. When public borrowing is excessive, governments are soon obliged to finance it by printing money, and rising inflation then follows. Clive Crook
The United States economy is like a poker game where the chips have become concentrated in fewer and fewer hands, and where the other fellows can stay in the game only by borrowing. When their credit runs out the game will stop. Marriner Eccles
I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election Warren Buffett
Money was the crux. Raising money to pay the cost of war was to cause more damage to 14th century society than the physical destruction of war itself. Barbara Tuchman
Money was the crux. Raising money to pay the cost of war was to cause more damage to 14th century society than the physical destruction of war itself. Barbara Tuchman
Republicans do not have good ideas. Borrowing two trillion dollars from your grandchildren to finance a Social Security scheme that looks like Enron is not a good idea. Howard Dean
Our Federal Reserve has unlimited money raising powers. Ben Stein
Without deficit reduction, we cannot have sustained economic growth. Bill Clinton
Debt has become a part of who we are… Normal is broke in America. Dave Ramsey
A trifling debt makes a man your debtor; a large one makes him an enemy. Lucius Annaeus Seneca
Borrowing to build factories is not the economic equivalent of borrowing to buy television sets, and it’s amazing just how few modern economists can see the difference...Borrowing to produce is the way poor countries become rich. Borrowing to consume is the way rich countries become poor. Peter Schiff
We are borrowing cheaply because we are the best looking horse in the glue factory. Gene Sperling
Start a small business, borrow money from your parents if you have to. Mitt Romney
There can be no freedom or beauty about a home life that depends on borrowing and debt. Henrik Ibsen
If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. Robert H. Hemphill
When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Napoleon Bonaparte
The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve. Their common characteristic is obviously their sordid avarice. Aristotle
The organized banking interests which own the railroads, control credit, and dominate the industrial life of the nation, will further oppress labor, rob the consumer, and, by extortionate railroad rates and dictation of terms of credit, reduce agriculture to the level of European peasantry, if longer permitted to control this government. Robert M. La Follette
We give lip service to the importance of deficit reduction, but Americans oppose every single thing that you might do to reduce the deficit. Alan S. Blinder
Money lending is a horrible profession. If we are to call it otherwise it is lawful plundering. Periyar E. V. Ramasamy
Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other Ludwig von Mises
History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government. Ludwig von Mises
The Greeks do not have the option of borrowing because nobody will lend to them. Anne Applebaum
The absolutists of contract are the real parents of revolution. John Maynard Keynes
Nobody gets to threaten the full faith and credit of the United States just to extract political concessions. Nobody gets to threaten our economy and hurt millions of people just because there are a couple of laws you do not like. Barack Obama
Massive Federal Budget Deficits are only the most conspicuous sign of a society that has promised itself more than it could afford. Robert Jacob Samuelson
Banks can’t put their money in the bank. They have to lend it out. Barbara Garson
We all have to resist the temptation to finance growth with increased debt yet again. Angela Merkel
There's nothing like spending other peoples’ money Munir Butt
For a generation accustomed to thinking of the United States as the world's leading industrial power, something was lost when the U.S, became the world's largest debtor. Allen B. Rosenstein
In its beginnings, the credit system sneaks in as a modest helper of accumulation and draws by invisible threads the money resources scattered all over the surface of society into the hands of individual or associated capitalists. But soon it becomes a new and formidable weapon in the competitive struggle, and finally it transforms itself into an immense social mechanism for the centralization of capitals. Karl Marx
Does it make any sense to borrow money from China to give it to the unemployed I America? This weakens us. Rand Paul
Ireland, once an impoverished backwater from which generations fled, conjured an economic miracle…. After 2007, the party ended in a morass of insolvent banks, bad mortgages, and unpaid public debt, ultimately sending the proudly independent country begging to the International Monetary Fund. Andrew Moravcsik
The cozy world we were told would go on forever, where full employment would be guaranteed by a stroke of the Chancellor’s pen, cutting taxes, deficit spending—that cozy world is gone. James Callaghan
The nation is in a situation similar to that of an employee who receives annual pay raises but cannot improve his or her standard of living because of the need to pay rising debt service to creditors. Bill White (Texas politician)
American economic history does not support the idea that a strong economy depends on chronic federal borrowing. Bill White (Texas politician)
Only a small part of the direct costs of the war [WWI] were paid by taxation; the greater part were financed by government borrowings which spread the burden of payment over into the future. George Percival Auld
The only remedy for Mexico's poverty which has appealed to our politicians has been to contract foreign loans, which have never been paid, and to invite foreign capital to invest in Mexico. Toribio Esquivel Obregon
The poor man who takes property by force is called a thief, but the creditor who can by legislation make a debtor pay a dollar twice as large as he borrowed is lauded as the friend of a sound currency. The man who wants the people to destroy the Government is an anarchist, but the man who wants the Government to destroy the people is a patriot. William Jennings Bryan
There is first the great question between direct taxation and loans. Shall we lay the whole burden of the contest upon the present generation, or divide it between ourselves and posterity ? By an almost universal law of our nature, money lightly gained is lightly spent: a revenue raised at the expense of posterity is sure to be squandered waste fully. Waste, as usual, begetting want, the sums raised by loans will commonly be large. Now these large sums are a mortgage on all the property, on all the industry, on all the skill and ability of a country for ever. Thomas Arnold
Rather than rewarding today’s voters with benefits financed by future generations, as Congress typically does, solving the climate problem will require costly actions now to protect those who will follow us. Robert N. Stavins
A plentiful Currency will occasion Interest to be low …. many that understand Business very well, but have not a Stock sufficient of their own, will be encouraged to borrow Money; to trade with, when they can have it at a moderate Interest. Benjamin Franklin
He that trades with Money he hath borrowed at 8 or 10 per Cent cannot hold Market with him that borrows his Money at 6 or 4. Benjamin Franklin
If you want to know the value of money, try and borrow some. Benjamin Franklin