Thomas A. Edison Quotes

Debt is one person's liability, but another person's asset.

Public debt [is] a burden on all the people.

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.

What did the taxpayers get out of the Obama stimulus? More debt. That money wasn't just spent and wasted - it was borrowed, spent, and wasted.

What we now call 'finance' is, I hold, an intellectual perversion of what began as warm human love.

Those have a short Lent who owe money to be paid at Easter.

There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth.

Capital is kind of a banking concept.

When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans.

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.

One proposes raising the value of specie when the King's debts are large, and lowering it when his revenues were to come in, that so he might both pay much with a little, and in a little receive a great deal: another proposes a pretence of a war, that money might be raised in order to carry it on, and that a peace be concluded as soon as that was done; and this with such appearances of religion as might work on the people, and make them impute it to the piety of their prince, and to his tenderness for the lives of his subjects.

President Obama has contempt for real money.

The biggest debt is always the government debt; it's always debt that government has run up on your behalf.

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.

I think if we give Glenn Beck the numbers, he can solve this [the national debt].

If you put Canada into $1.5 trillion in debt and interest rates go up just 200 basis points, you cannot provide the services to 36 million people that were guaranteed to them in the social contract they have with Canada. That's a very, very scary prospect. You can't burden this economy with that much debt. The risk you take on is insurmountable. You have to assume for the next 50 years that rates don't go up? That's insane. That's irresponsible. That's stupid.

The ingenious slogan that the public debt does not matter because 'we owe it to ourselves' is clearly absurd.

In numerous years following the war, the Federal Government ran a heavy surplus. It could not (however) pay off its debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.

There is no class of people in the world, who have such good memories as creditors.

If the US government spends 40 percent of the nation's income, as it does through either borrowing or taxes, that income is not available for people to spend. The deficit is an indirect method of taxation. Of course, politicians prefer to borrow instead of tax because then someone down the road has to deal with the consequences.

I served on the budget committee in the Senate, and I remember as vividly as if it were yesterday when we had a hearing in which Alan Greenspan came and justified increasing spending and cutting taxes, saying that we didn't really need to pay down the debt - outrageous in my view.

It's hard in a monetary system to trust people.

I think with success you do get a little more guarded and you start to change your friends. You become more isolated. And you start hanging around with people who have money! I think that's the biggest thing. Once you do get a bit of change in your pocket, you start hanging around with other people who have some change. It was kind of strange to all of a sudden go from one extreme-Manhattan-to where I went, upstate New York. But I did it because I was dying in the city. I couldn't take it. I couldn't take one more dinner party. I couldn't take one more party, period.

A lot of people out there working hard and finally building up to getting a pretty good income. Higher tax rates on them, you know, the income rates going up, the dividend rates are going up, the capital gains rates all going up before health care kicks in.

Nine out of ten significant people have to do with money or war!