Deficit & Debt Financing Quotes



Search Results (84)

Quote Author Cited
In a world awash in debt, power shifts to creditors. Fareed Zakaria
We cannot allow the heavy weight of the debt to bring us to our knees.. Alejandro García Padilla
Our country is at peace, but the stakes are as high as if we were at war – a war waged not with battleships, guns and planes but with words and money. Its foot soldiers, in a sense, are the lines of the unemployed, the pensioners crowding outside banks; cars queuing at gas stations are a crippled cavalry; generals are the finance ministers who lob proposals at one another with the aggression of those who will not suffer the consequences. All are caught up in a five-year campaign in which Greece has struggled to meet the terms of the biggest bailout in history.... Nikos Konstandaras
... 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
There are 100 Billion starts in the galaxy. That used to be an astronomical number. It's less than the national deficit. Now we should calm them economical numbers. Richard P. Feynman
Buy a share in America : United States defense savings bonds & stamps. Anonymous
China, Japan, and Asia in general have been happy to hold U.S. debt instruments in recent decades, but they will not prop up our spending habits forever…. The greatest threat facing America today is not terrorism, or foreign economic competition, or illegal immigration. The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. Ronald E. Paul
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
We cannot continue our leadership in the world as the largest debtor nation the world has ever known. Hillary Clinton
Governments harangue about deficits to get more revenue so they can spend more. Allan H. Meltzer
The United States is a bankrupt nation. It owes the world 14 trillion dollars, and it is truly able to finance itself and the war and the supply of arms to Israel, through the money that is lent to the United States by rich countries, some of which are Muslim countries. And if you stop using the U.S. dollar... Even if you want to sell oil, you can continue to sell oil, but insist on being paid in euros, or yen, or whatever... If you do that, then the U.S. dollar will not be half the value that it has today, and if it doesn't have the value that it has today, it cannot spend money producing arms Mohamad Mahathir
We must all live so that our children do not have to pay for our deeds. Andrejs Upits
The average standard of living of the average American is going to go down. That is the only way we can cope with our debt and trade deficit problems. Jeff Faux
Just Pay For It Anonymous
The common People have been pleased with large Emissions of Bills [printing of money]: And as for a Plenty of this Paper Currency, they loved to have it so, not considering what they should do in the End thereof. The People have chosen rather to lay up Debts for their Children in these promissory Bills, than to pay their Debts themselves. Nay, Is it not to be feared that many have been wishing for Plenty of these Bills with this View, that they might depreciate, that so they might the more easily pay their Debts. Nathaniel Appleton
It's time to cut up Uncle Sam's credit card. Bob Dole
Our national finances are in a ruinous state. Hans Eichel
Where is the money? Felix Grundy
Social Security is on the books. We’ll pay for it as long as we have money or can borrow it. William Frenzel
Blessed are the young, for they shall inherit the national debt. Herbert Hoover
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
The maxim of buying nothing without the money in our pocket to pay for it, would make our country one of the happiest upon earth. Thomas Jefferson
May the debt of the United States be discharged with speed and punctuality; and let not the people be deceived, by having the funds, established for that purpose, put to other uses. John Leland; Jack Nipps
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
The payment of Social Security benefits under law have little or nothing to do with the fiscal resources available. Alan Greenspan
A public debt is a public curse and in a representative government greater than any other. James Madison
Let’s make this the year where we are either going to get rid of the deficit or get rid of the idea that we are going to get rid of the deficit.. Herbert Stein
A dynamic economy, with more citizens working and paying taxes, will be our strongest tool to bring down budget deficits Ronald Reagan
Whenever you borrow money, the people you borrow it from have leverage over you. John Thune
We cannot deal with the debt. The Democrats are not going to allow reductions in entitlements like Social Security. The Republicans will not allow one dime of additional taxes. We have a deadlock of democracy. Pat Buchanan
I should be sorry if on this occasion the House should decide that speculations in the funds are violations of either the moral or political law. A government hardly exists in which such speculation is disallowed. Elias Cornelius Boudinot
Since this report has been read in the House, a spirit of havoc, speculation and ruin, has arisen by people who had access to the information… Three vessels Sir have sailed within a fortnight freighted for speculation; they are intended to purchase up the State and other securities in the hands of the uninformed but honest citizens of North Carolina, South Carolina, and Georgia. My soul rises indignant at the avaricious and immoral turpitude which so vile a conduct displays. James Jackson
A national debt, properly funded and serviced, can be a potent instrument of national policy. John Steele Gordon
In the 1860s we used the national debt to save the Union. In the 1930s we used it to save the American economy. In the 1940s we used it to save the world. John Steele Gordon
The iron need to get reelected will always take priority over a relative abstraction like a budget deficit. John Steele Gordon
We aren't living the gospel of democracy and free enterprise today. We are merely preaching it. We have made only half of the combination work, and we've done that superlatively well. Free enterprise booms. But democracy staggers and reels under oppressive debts and inordinate operating costs-both the consequences of political failure. T. Coleman Andrews
The debt ceiling should never be part of the budget negotiation process. Robert E. Rubin
The single biggest threat to our national security is our debt. Michael Glenn Mullen
It’s all in there. We have harpooned every whale in the ocean. Alan K. Simpson
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 a new set of Congressmen who have really come to burn the House down. Luis Gutierrez
To get control of the deficit we have to do something about the cost of health care. That is the part of the government budget that is toltally out of control. There is NO WAY to control the budget unless we can bend the growing health care cost down. Nothing should be off the table, but no one has submitted a budget whtch tries to control health care cost. Pete Domenici
The plutocracy has invented countless makeshift programs, such as generating enormous public debt that plutocrats know they will never be able to repay, levies on capital, taxes which exhaust the incomes of those who do not speculate, sumtuary laws which have historically proven useless, and other similar measures. The principal goal of each of these measures is to deceive the multitudes. Vilfredo Pareto
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
I can not too cordially congratulate Congress and my fellow citizens on the near approach of that memorable and happy event -- the extinction of the public debt of this great and free nation. Andrew Jackson
We have to make debt evil. Douglas Holtz-Eakin
Morris Notes Anonymous
Since the day that we first trod the soil of these valleys, have we received any assistance from our neighbors? No, we have not. We have built our homes, our cities, have made our farms, have dug our canals and water ditches, have subdued this barren country, have fed the stranger, have clothed the naked, have immigrated the poor from foreign lands, have placed them in a condition to make all comfortable and have made some rich. We have fed the Indians to the amount of thousands of dollars yearly, have clothed them in part, and have sustained several Indian wars, and now we have built thirty-seven miles of railroad. All this having been done, are our cities, our counties and the Territory in debt? No, not the first dollar. Brigham Young
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
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
Can there be a more lamentable picture than that of a Chancellor of the Exchequer seated on an empty chest, by the pool of bottomless deficiency, fishing for a budget? Robert Peel
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
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
When national debts have once been accumulated to a certain degree, there is scarce, I believe, a single instance of their having been fairly and completely paid. The liberation of the public revenue, if it has ever been brought about at all, has always been brought about by bankruptcy; sometimes by an avowed one, but always by a real one, though frequently by a pretend payment. Adam Smith
Deficits of that size are foreign to my thinking. Mike Harcourt
Debt is the prolific mother of folly and of crime; it taints the course of life in all its dreams. Benjamin Disraeli
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
All legislation looking to the perpetuation of our national debt, and of the national-banking system which feeds and fattens upon it, should be universally discouraged and denounced as a crime against the people, and all laws looking to their existence should be immediately repealed. James Baird Weaver
Between debt and taxes Americans had usually chosen debt. Paul Solmon
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
As austerity measures were foisted upon Greece, Ireland, Portugal, and other highly indebted countries, growth was rendered even more elusive, aggravating unemployment Mohamed El-Erian
Someone should put up a chart for Congress showing the difference between millions, billions, and trillions. Our problems are in trillions and Congress is arguing about millions. David Brooks
The Greeks do not have the option of borrowing because nobody will lend to them. Anne Applebaum
Defaulting on our [national] debt is defaulting on America. Thomas J. Donahue
Imagine where we would be if Congress had accepted George W. Bush’s privatization plan. The part of Social Security siphoned off to private accounts would have suffered the market’s losses, and recipients would have been forced to live off of basic benefits substantially lower than Social Security presently is. James K. Galbraith
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
We all have to resist the temptation to finance growth with increased debt yet again. Angela Merkel
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
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
A tale of two Americas is emerging: one weighed down by debt and facing de minimus economic growth and another brimming with opportunity and nimble to invest in the future Meredith Whitney
We are broke—bankrupt—really bankrupt! James Baker
Never in the nation’s history had a president proposed large, simultaneous spending increases and tax cuts when the federal budget already had a deficit. Bill White (Texas politician)
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)
The nation’s founding fathers deferred many of their own cherished plans until the nation paid off its debts. 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
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
The reason we vote on the debt ceiling is to pay for past spending. It has nothing to do with what we are going to spend. What you are really saying is “I’m sorry, I am so mad that I don’t want to pay my past debts.” Bill Clinton
That’s what politicians do all the time. They promise you something, they don’t provide the money for it, and then they kick the can down the road and pass on the bill to the next generation. Tom Coburn
We have a tax code that favors debt over equity. Rana Foroohar
Debt is the lifeblood of finance; with the rise of the securities-and-trading portion of the [financial] industry came a rise in all kinds [of debt], both public and private. Rana Foroohar