Debt Accumulation Quotes

As a community we have been living beyond our means…. We have been living at a rate which is simply not justified by the amounts of goods and services we are producing.

Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.

The course of unbalanced budgets is the road to ruin

We have been maintaining a standard of living by putting things on the debt of the next generation.

We are spending a little more than we are raising each year and you wonder how long it can go on. It is too easy for us to borrow.

In software engineering, we have the term 'technical debt.' When you don't do a job correctly, unaddressed problems become harder and harder to solve.

The state is out of control, the state is on a spending binge, the state has to stop putting itself in a hole that's getting deeper and deeper and deeper.

We've had years and years and years of compromises, and that's led to $14 trillion in debt.

Any government, like individuals and families, cannot spend more than they take in without courting disaster.

A small debt produces a debtor; a large one, an enemy.

When money is free, the rational lender will keep on lending until there is no one else to lend to.

You load sixteen tons, what do you get? Another day older and deeper in debt.

You cannot just keep borrowing more and more and keep spending more and more without eventually having a day of reckoning.

Since taking office in 2008, the Barrow Administration failed to stimulate the necessary economic growth. Instead they have, over the more than four years, continued on a path of borrow and spend, accumulating huge additional debts.

If you go to prison, your child support adds up.

Obama did inherit a deficit when he came into office. Why this fact justifies racking up vastly more debt and bigger deficits is a logical mystery.

It's the [George Bush] president's fiscal policies that have driven up the biggest deficits in American history. He's added more debt to the debt of the United States in four years than all the way from George Washington to Ronald Reagan put together.

You can pretty much trace when the big individual indebtedness kicked in, and it was when the credit card became generally available.

I wasn't worth a cent two years ago, and now I owe two million dollars.

It took the first 204 years of our Nation's history to accumulate $1 trillion in debt. And now we are doing that every 2 or 3 years.

Back in 2008, candidate Obama called a $10 trillion national debt 'unpatriotic' - serious talk from what looked to be a serious reformer. Yet by his own decisions, President Obama has added more debt than any other president before him, and more than all the troubled governments of Europe combined. One president, one term, $5 trillion in new debt.

Washington continues to encourage ever more ill-considered lending in a misguided attempt to stave off needed market corrections. The currently proposed combination of a nationwide infrastructure spending orgy plus tax-cut bribes does nothing to remedy that.

[S]ound policy condemns the practice of accumulating debts.

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

Everybody’s kicking the can down the road of too much public and private debt. The can is becoming heavier and heavier…