Eduard Shevardnadze Quotes

The entitlement state has driven us into insolvency.

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.

Governments are out of control, irresponsible, never have enough money, never tighten their own belts, and when they are forced to, they always threaten to shut down police departments and teachers and all these things.

Too many Americans are out of work, and our debt is out of control.

What you have in legacy countries is long-term insolvency.

As families and small businesses alike are tightening their belts to account for the worsening economy, they have every right to ask: 'Why isn't my government doing the same?'

The truth, Prime Minister, is that you have run out of our money. The country as a whole is now in negative equity. Every British child is born owing around 20,000 pounds. Servicing the interest on that debt is going to cost more than educating the child.

Madame Deficit

We have hardly enough money to last till the end of March.

It is impossible, financially and politically, to lower expenditure to the level of our revenues in the calamitous times in which we live, and so, however painful and afflicting the idea may be, we must exist from day to day and simply await the outcome of events yet in the making …

The public understands that the government is broke, but many still don't want to cut programs they enjoy or depend on.

The very welfare state the Occupy Wall Street protesters so eagerly applaud is what has saddled Greece with colossal debt and left its economy on the brink of collapse, igniting violent protests across the nation.

[D]ebt increases that didn't arise either from war or from extraordinary financial crisis are entirely associated with hard-line conservative governments.

In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added to households' estimates of their private wealth relative to their wage income.

Democracies can't handle austerity measures very well.

I think it's important that people know what raising the debt ceiling is. It's Congress giving permission to the federal government to borrow more money that we don't have, and we borrow it for the purpose of spending it.

Spain is facing an economic situation of extreme difficulty, I repeat, of extreme difficulty, and anyone who doesn't understand that is fooling themselves.

So people have been hurting and I understand that. And it doesn't give them comfort or solace for me to tell them, you know, but for me, we would be in a worldwide depression.

Have you noticed the debt is exploding? And it's not all because of Medicare.

We've all got to get away from this idea that the big money's still around.

Nevada was hit hardest by the recession - highest unemployment, highest foreclosure rate, highest bankruptcy rate.

If we have an economic crisis in the Western world it's because the government makes up 50 percent or more of the economy. This is a cancer that is taking away people's freedom.

Greece is an extreme case: a country where both the level of spending and the level of taxation were unsustainable!

This debt crisis coming to our country. The wall and tidal wave of debt that is befalling our nation. Medicare and Social Security go bankrupt within ten years, we have a debt that is looming so high that in the last year of President Obama's budget just the interest payments on our debt is $916 billion dollars.

We're facing a natural disaster in the middle of an economic disaster. The federal government has to balance its budget the way our families do.