Alejandro García Padilla 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.

We are broke—bankrupt—really bankrupt!

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.

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.

Finance ministers the world over, responsible for assuring the service of the internal debts by forcing down the standards of living, do not find the matter so simple. They observe that the average man today finds the problem of making both ends meet a serious one. They are well aware that he demands something out of life over and above the bare necessities, and they have a realistic view of the situation created when a government demands this margin in taxes or takes it by inflation.

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….

You got to pick one - pay your medical bills or pay the mortgage. Most people can't do both, and I'm no different.

I've had nonstop financial problems my whole adult life. It's always been a constant balance, year to year: 'Where's the time? Where's the money?'

There's a foot race between gas bills and paychecks.

A public debt is a kind of anchor in the storm; but if the anchor be too heavy for the vessel, she will be sunk by that very weight which was intended for her preservation.

The Treasury was suffering under every kind of embarrassment. The demands upon it were great in amount, while the means for satisfying them were comparatively small, precarious in collection and difficult in their application.

Our national finances are in a ruinous state.

We have to make debt evil.

Money was the crux. Raising money to pay the cost of war was to cause more damage to 14th century society than the physical destruction of war itself.

Between debt and taxes Americans had usually chosen debt.

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

A man who murders another shortens by a few brief years the life of a human being; but he who votes to increase the burden of debts upon the people of the United States assumes a graver responsibility.

Families across America are feeling the pinch as they watch debts mount, bills pile up and savings disappear.

Debt, grinding debt, whose iron face the widow, the orphan, and the sons of genius fear and hate; debt, which consumes so much time, which so cripples and disheartens a great spirit with cares that seem so base, is a preceptor whose lessons cannot be foregone, and is needed most by those who suffer from it most.

We came out of the White House not only dead broke, but in debt.

The disease of debt has reached the top. And once it reaches the top it has no-where else to go.

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

More than ever before, Americans are suffering from back problems: back taxes, back rent, back auto payments.

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