Bill Clinton Quotes
The reason we vote on the debt ceiling is to pay for past spending. It has nothing to do with what we are going to spend. What you are really saying is “I’m sorry, I am so mad that I don’t want to pay my past debts.”
At the time, many conservatives were threatening not to increase the debt ceiling unless they could get their way on the budget negotiations which would come up later. The Congress had earlier actually committed to spend the amounts when they voted the appropriations that enabled the spending and increasing the debt. Most countries do not have this second stage in that there is nothing the Congress can possibly do to change get back the money that they already voted to be spent, and the process of raising the debt ceiling must be done else the “full faith and credit” of the United States.
William Clinton, 42nd President of the United States (Democrat, AR), Interview with Wolf Blitzer, CNN News, June 30, 2011
Sourced by: Eigen's Political and Historical Quotations
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Almost every major corporation that is growing must borrow money to finance the growth. There is a great temptation to do this continuously, as if all works out the borrowed money is paid back and the nation has grown. However, not every investment succeeds, and when they do, few nations will take the growth and save it for a future date when a national investment does not work out as well as hoped. Gradually national debt as a proportion of the economy gets larger and larger and it makes mew investments more and more difficult to succeed because of the higher rates of interest that must be paid. Every modern country must find a balance. Those that do not can have a financial disaster such as Greece in the early part of the 21st century.
William Jefferson "Bill" Clinton is an American politician who was the 42nd President of the United States from 1993 to 2001. Clinton was previously Governor of Arkansas from 1979 to 1981 and 1983 to 1992, and the Arkansas Attorney General from 1977 to 1979. Clinton was born William Jefferson Blythe III – he changed to his stepfather's name at age 15.