Deficits Quotes



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Quote Author Cited
In a world awash in debt, power shifts to creditors. Fareed Zakaria
I am not worried about the deficit. It is big enough to take care of itself. Ronald Reagan
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
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
Madame Deficit Marie Antoinette
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
We had better look out for ourselves and make the rest of the world look out for themselves. If we tried to feed the world, we will starve and perhaps destroy America… George S. Patton
You know if you let me write $200 billion worth of hot checks, I could also give you the illusion of prosperity. Lloyd Bentsen
I've been Secretary of the Treasury for 147 days, and in that 147 days I've written $133 billion worth of hot checks. Lloyd Bentsen
If the rest of Washington ran as efficiently as this football team there wouldn't be any deficit. Jeff Bostic
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
Let's face it. If I was funnier than Ronald Reagan, I would have won in 1980. And he'd be up here tonight trying to laugh away the Bush deficit. George W. Bush
All progress is based upon the universal innate desire on the part of every organism to live beyond its income. Samuel Butler
This nation suffers from three deficits—a trade deficit, a budget deficit, and an education deficit. I submit, that the trade and budget deficits will not be resolved until we overcome the education deficit. Lauro F. Calvazos
Deficits aren't always bad if you invest the money. Bill Clinton
You can promise anything in this world because it isn't a real world. We don't have to balance the budget. Larry Craig
We're going to finally wrassle to the ground this gigantic orgasm that is just out of control. Dennis W. DeConcini
We've got the budget deficit and we've got the human deficit. Marian Wright Edelman
Our national finances are in a ruinous state. Hans Eichel
The reason Congress hasn't balanced the budget is that the sky hasn't fallen lately. William Frenzel
To rob Peter and pay Paul. John Heywood
Blessed are the young, for they shall inherit the national debt. Herbert Hoover
There are only three ways to meet the unpaid bills of a nation. The first is taxation. The second is repudiation. The third is inflation. Herbert Hoover
The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale Thomas Jefferson
Those who make the most and loudest speeches about deficit reduction are least likely to vote against spending. George J. Mitchell
As a general rule, the demands of the current year, especially in time of peace, should be provided for by the revenues of that year. James Monroe
Under certain circumstances loans may be resorted to with great advantage. James Monroe
To add current expenses of the Government to the national debt ... and thereby pass the current cost of government to the next generation is not only bad financing but very bad statesmanship. Fiorello H. La Guardia
The only way to meet the situation [the financial crisis] is spend less money and to run the City of New York within the limits of our resources. Unless you do this, gentlemen, you will have a difficult problem confronting you by the end of this year and the taxpayers of 1922 and the years thereafter will have to pay the price of our present lack of prudence or our unwillingness to economize at the proper time. Fiorello H. La Guardia
Let us act with our eyes open. We are going to have a deficit next fiscal year and the year after that. Fiorello H. La Guardia
Christmas is a time when kids tell Santa what they want and adults pay for it. Deficits are when adults tell the government what they want—and their kids pay for it. Richard Lamm
No country can violate the laws of economic gravity too long. Richard Lamm
The deficit had become a symbol of our inability to control and manage the cost of government. Robert E. Rubin
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
I can’t be in charge of people’s perceptions. Alan Greenspan
I urge the Congress to avoid running up large costs for future generations of Americans. George W. Bush
Too many conservatives in our country want to run up enormous deficits in the hope that someone else will pay for it. This is not conservativism; it is alchemy or lunacy. Michael Bloomberg
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
Deficit spending is simply a scheme for the confiscation of wealth Alan Greenspan
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
We all have to sacrifice to reduce the debt, but we can’t sacrifice our future. Barack Obama
Really—no mental reservations Edmund G. Brown Jr.
The era of deficit denial is over Erskine Bowles
There is only so much that you can kick the can down the road. Ben Bernanke
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
Financial markets will tolerate a Republican deficit but will run screaming in panic from a Democratic deficit a fraction its size. Gary Hart
We have to make debt evil. Douglas Holtz-Eakin
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
Balanced budgets have a lot to do with National Defense. Howard Dean
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
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
Defaulting on our [national] debt is defaulting on America. Thomas J. Donahue
You can always raise taxes on the rich, but that will not solve the deficit problem. Thomas J. Donahue
Our true test is not between tax reduction on the one hand and the avoidance of Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget—just as it never will produce enough jobs or enough profits. John F. Kennedy
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
Our ability to estimate our deficit 20 years out is nil. We should not twist our economy like a pretzel over such an projection…. Growth in the short run raises the level of long run potential. Lawrence Summers
[Federal deficits] are like an athlete taking steroids. You get a short term boost and long term damage. Al Gore
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)
In what seems like the blink of an eye, this George W. Bush has brought us from a prosperous nation at peace to a broke nation at war. Hunter S. Thompson
Taken to its logical extreme, the Laffer curve makes no sense because, if you lower your taxes to zero, how are you going to get higher revenues? In practice, every government that toyed with this theory ended up with larger deficits, higher interest rates and greater social inequality. Jean Chretien
With a view to assuring our national and economic development, and giving the country a more regular and more modern administration, the signatories of the present pact consider the possession of complete independence and liberty as the sine qua non of our national existence. In consequence, we oppose all juridical or financial restrictions of any nature which would arrest our national development. The conditions of settlement of our proved debts shall likewise not be contrary to these principles. Kemal Ataturk
To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above. Ben Bernanke
A man who murders another shortens by a few brief years the life of a human being; but he who votes to increase the burden of debts upon the people of the United States assumes a graver responsibility. William Jennings Bryan
The first order of business is the elimination of the annual deficit. Dwight D. Eisenhower
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
With the Eurozone … seeking internal balance via ever larger external imbalances in the form of current account surpluses, debtor Eurozone could only attain internal balance with ever larger external imbalances in the form of current account deficits.. Martin Wolf
Last year 100,000 people gathered on The Mall to Protest the deficit. We Republicans, over and over, castigated President Obama for creating a Trillion dollar deficit. I was against big deficits then, and I am agaist them now. Just because it is now Republicans doing all the spending, I am still opposed.... Those Republcians who voted for a tax cut and a spending increase are hypocrites. Rand Paul