John Sununu Quotes

There is absolutely no way that the U.S. will ever default on its debt. We are not going to do that.

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.

Defaulting on our [national] debt is defaulting on America.

Not raising the debt ceiling is not an automatic trigger for a default.

I think some people don't truly understand the situation, and they think, you know, the debt limit, it doesn't really mean anything, and they don't understand the implications on the U.S. economy and on the global markets.

I want to state unequivocally for the world, as well as for the markets, as well as for the American people: I have no doubt that we will not lose the full faith and credit of the United States.

One needs a comprehensive concept that decides just how much debt states like Greece, Ireland, Portugal, Spain and Italy can sustainably bear.

I don't know of any of us that want to see any kind of default happen.

There can be no such thing as a state's right to default on a national duty.

If we hit the debt ceiling, that's... essentially defaulting on our obligations, which is totally unprecedented in American history. The impact on the economy would be catastrophic.

Not raising the debt ceiling does not trigger a default, because we've got enough money to service our debts. Default is when you can't service your debt.

I fully believe that the U.S. has the obligation to honor its debt.

In my mind, there is arguably a greater risk of a default on the debt of a U.S. state than there is on the debt of a euro-area member. I consider it unthinkable that a euro-area country would default.

By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.

The Obama administration's large and sustained increases in debt raise the specter of another financial crisis and large future tax increases, further chilling business investment and job creation.

Imagine how much capital a country like Argentina might attract - if instead of defaulting seriatim and affecting a pose of anger toward creditors, it borrowed responsibly and honored its obligations.

So you know, everyone points out Greece's default record, but the history of a lot of sovereign nations is not a good one when it comes to lending them money.

The national debt is totally unlike a family budget for about a gazillion reasons, not the least of which being that families cannot raise money by fiat or deflate the size of their debt unilaterally and that family members die instead of existing infinitely.

Without growth we can't pay down our debt, and without growth there's no money for welfare.

What I'm concerned about is endless borrowing, which is going to compromise our economy not only today but in the future. Because we know the decisions we make right now really dramatically impact us in the future, and the debt is literally getting out of our control.

The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

It is simply science fiction fantasy to say that, if you do not raise the debt ceiling, that everything is going to collapse.

Defaulting on the nation's debt would be cataclysmic. The U.S. Treasury's Aaa rating is the one constant in the world's financial system. When times are bad anywhere on the planet, global investors flock to Treasury bonds because they know they will get their money back.

The thing is, Obama is right that it would be a calamity for the government to default on its debt by not meeting its obligations. Such a thing has never happened and can't be allowed to happen.

The debt limits have to come down. The whole world of debt has to be changed as far as this country is concerned. We have to create jobs and we have to create them rapidly because if we don't things are just going to head in a direction that's going to be almost impossible to recover from.