Now we are raising the debt limit 3 times, up to $8 trillion, so that our children and our grandchildren will have to pay for the cost of our expenditures.
The early part of my career I really struggled, getting turned down again and again. I was in debt, and it was horrible. And then my family hit such highs in their careers, I asked myself what I was thinking going into the same profession.
There are no shortcuts when it comes to getting out of debt.
Governments can inflate their way out of debt, but that has consequences, doesn't it?
Whatever we owe, it is our part to find where to pay it, and to do it without asking, too; for whether the creditor be good or bad, the debt is still the same.
The 1980s are to debt what the 1960s were to sex. The 1960s left a hangover. So will the 1980s.
Someone has to pick up the tab when people get out of repaying their own debts.
Some people worry because they are in debt; others, because they can't even get in.
It is day after day in this institution, borrow money, run up the debt, run up the deficits and then with a straight face say, we are going to repeal a tax that affects 1 percent of the American people, just 1 percent of the American people.
We've seen the weakest economic recovery since World War II, and massive levels of inequality and debt.
If there is one common theme to the vast range of crises. . . it is that excessive debt accumulation, whether it be by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom.
We often pay our debts not because it is only fair that we should, but to make future loans easier.
A pound of worry won't pay an ounce of debt.
When the economy's shrinking, providing jobs, spending on things like infrastructure can actually increase revenue and drive down debt. And then, there's going to be a time at which point debt has to be taken care of.
You're my friend, Danny. You understand? There's no debt between friends. " Maybe it's just that the debt gets so high you stop counting it.
The nations which have put mankind and posterity most in their debt have been small states Israel, Athens, Florence, Elizabethan England.
All of the problems we're facing with debt are manmade problems. We created them. It's called fantasy economics. Fantasy economics only works in a fantasy world. It doesn't work in reality.
The oldest and most important currency is debt.
Main Street has too much debt already. It is simply a bonanza for speculators who can borrow the overnight money and then buy something that they can speculate on.
We're in a chronic debt-deflation. There's no way we can recover unless you write down the debts. And that's what the IMF basically is implying (and it was explicit regarding Greece), but its not spelling it out, because that's not what can be said in polite company.