George Percival Auld Quotes

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.

Your Minister of Finance must confess to Your Majesty that he is frozen with terror on examining the budget for the War, and must also that he knows of no means by which such expenses can possibly be met….

A public debt is a public curse and in a representative government greater than any other.

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.

The burden of the national debt consists not in its being so many millions, or so many hundred millions, but in the quantity of taxes collected every year to pay the interest. If this quantity continue the same, the burden of the national debt is the same to all intents and purposes, be the capital more or less.

When I was a youngster growing up in South Dakota, we never referred to the national debt, it was always referred to as the war debt because it stemmed from World War I.

Debt is the fatal disease of republics, the first thing and the mightiest to undermine governments and corrupt the people.

The party in power almost always unapologetically engages in deficit spending, while the other party argues passionately against the evils of debt and deficits.

If we continue to allow the federal government to live beyond its means, we will all soon have to live beneath ours.

To date, every American citizen has nearly $27,000 in public debt riding on our backs.

We cannot allow the heavy weight of the debt to bring us to our knees..

The appropriation of public money always is perfectly lovely until someone is asked to pay the bill.

We have trouble, my friends, in the country, because we have too much money owing, the greatest indebtedness that has every been given to civilization … Two hundred and seventy-two thousand millions of dollars of debts are owed by the various people of this country today. Why, my friends, that cannot be paid. It is not possible for that kind of debt to be paid.

Between debt and taxes Americans had usually chosen debt.

The problem is that the U.S. government is the biggest debtor in the world, and those depending on it to take care of them will only become poorer.

Now, 'the fiscal cliff' is a name that the media came up with, but some of us have been saying for years, 'You have got to stop the out of control federal spending, or you will end up at this point.' We're there.

The federal government now spends one of every four dollars in the entire economy. It borrows one of every three dollars it spends. No nation, no entity, large or small, public or private, can thrive, or survive intact, with debts as huge as ours.

I am not worried about the deficit. It is big enough to take care of itself.

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.

President Obama is a utopian at heart. He wants to improve the lives of the downtrodden, which is a good thing. But, he doesn't understand that damaging the free marketplace in pursuit of 'social justice' will eventually harm those whom he wants to help. The nation's crushing debt is a tsunami brewing off shore.

A national debt, if it is not excessive, will be to us a national blessing.

The country is facing a fiscal crisis, and the United States Senate is at the center of the debate about how to bring federal spending under control.

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

I really truly worry that the debt is one of the single biggest threat to the United States of America, that we're talking about a problem that is multi-trillion in its depth and I think we ought to be cutting more.

President Obama's call for nearly a half-trillion dollars in more government stimulus when America has more than $14 trillion in debt is guided by his mistaken belief that we can spend our way to prosperity.