Quotes & Sayings About The United States Debt

It's time to ask why [the United States] is the only country in the world where we permit our children to be saddled with tens - sometimes hundreds - of thousands of dollars of debt before they begin to earn a penny. — F.H. Buckley

As the United States chains itself down with greater debt, China is building relationships across the globe to bolster its trade, its access to natural resources, and its energy consumption. In far too many cases, this means lost opportunities for America and our businesses. — Reince Priebus

When you're the president of the United States and you know that the biggest issue facing you is this cliff that we're about ready to head over if we don't get this spending and debt situation under control, it's very irresponsible not to take the action that is necessary to fix the problem. — John Thune

You know the most important thing the Americans did for Iraq apart from liberating the country from Saddam was helping Iraq reduce its debt. The United States worked very hard to reduce 80 percent of Iraqi debt. — Ahmed Chalabi

Half a world away, on the same Friday, the Chamber of Deputies in France opened debate on paying the United States a debt of 25 million francs (about $5 million) as an indemnity for French damage to American shipping during the Napoleonic wars. France had agreed to pay the money under an 1831 treaty, but after four days of consideration, by a margin of eight, France declined to honor its obligations. — Jon Meacham

I really truly worry that the debt is one of the single biggest threat to the United States of America, that we're talking about a problem that is multi-trillion in its depth and I think we ought to be cutting more. — Jason Chaffetz

F or a decade after the bursting of the debt bubble in 1837, business conditions were depressed in the United States. The number of banks available for financing speculative adventures declined. Then, after another 10 years, public memory faded again. — John Kenneth Galbraith

The world became more aware that America-despite being the hope of many who have the personal drive and ambition to become part of the "American dream"-is beset by serious operational challenges: a massive and growing national debt, widening social inequality, a cornucopian culture that worships materialism, a financial system given to greedy speculation, and a polarized political system — Zbigniew Brzezinski

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. — John F. Kerry

This law represents a cornerstone in a structure which is being built but is by no means completed
a structure intended to lessen the force of possible future depressions, to act as a protection to future administrations of the Government against the necessity of going deeply into debt to furnish relief to the needy
a law to flatten out the peaks and valleys of deflation and of inflation
in other words, a law that will take care of human needs and at the same time provide for the United States an economic structure of vastly greater soundness. — Franklin D. Roosevelt

The United State has a net worth against which our debt is a joke ... we wrote in 2008 the United States is going to come out of this recession fast. The Europeans are going to fragment. The Chinese are going to be cremated. Why could we come out of it? Why has all economic theory been proven wrong? Because we're rich and we could afford it ... — George Friedman

People in debt become hopeless and hopeless people don't vote. They always say that that everyone should vote but I think that if the poor in Britain or the United States turned out and voted for people that represented their interests there would be a real democratic revolution. — Tony Benn

Shannen Rossmiller's work in exposing Islamic terrorists has genuinely made our country safer. She has dedicated her life to combating the terrorist threat against the United States and has amazingly been able to infiltrate and actually stop terrorist operations. Our entire country owes her an immeasurable debt of gratitude. — Steven Emerson

That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt. Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 - that is what it amounts to, with interest. — Thomas A. Edison

You know, we've got to be responsible about our debt. We don't want the United States to ever be a dead beat, and not be able to pay its bills, either to our soldiers who are fighting or to Social Security recipients. — Claire McCaskill

The United States is at a critical juncture in time. Our government is riddled with historic debt, and the limited resources of philanthropic and non-profit efforts cannot meet the scale of social challenges we face with necessary force. — Simon Mainwaring

Investment bankers do much of their business underwriting government bonds, in the United States and abroad. Therefore, they have a vested interest in promoting deficits and in forcing taxpayers to redeem government debt. — Murray Rothbard

There is a lot of fiscal conservatives in the United States senate that didn't vote for that because we understand that national security spending is not the reason why we have a debt. Our debt is being driven by the way Social Security, Medicare, and Medicaid and, by the way, the interest on the debt is structured in the years to come. — Marco Rubio

So we make this big loan, most of it comes back to the United States, the country is left with the debt plus lots of interest, and they basically become our servants, our slaves. It's an empire. There's no two ways about it. It's a huge empire. It's been extremely successful. — John Perkins

The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default. — Alan Greenspan

Meanwhile, the U.S. debt remains, as it has been since 1790, a war debt; the United States continues to spend more on its military than do all other nations on earth put together, and military expenditures are not only the basis of the government's industrial policy; they also take up such a huge proportion of the budget that by many estimations, were it not for them, the United States would not run a deficit at all. — David Graeber

Mass culture is Peter Pan culture. It tells us that if we close our eyes, if we visualize what we want, if we have faith in ourselves, if we tell God that we believe in miracles, if we tap into our inner strength, if we grasp that we are truly exceptional, if we focus on happiness, our lives will be harmonious and complete. This cultural retreat into illusion, whether peddled by positive psychologists, Hollywood, or Christian preachers, is a form of magical thinking. It turns worthless mortgages and debt into wealth. It turns the destruction of our manufacturing base into an opportunity for growth. It turns alienation and anxiety into a cheerful conformity. It turns a nation that wages illegal wars and administers off-shore penal colonies where it openly practices torture into the greatest democracy on earth. — Chris Hedges

I think what's important to understand is if the United States hits the debt ceiling and is unable to pay its debts, the consequences will be immediate and dramatic. — Kenneth Chenault

I believe that it was the highest privilege of my life to wear the uniform of the United States Marine Corps. I don't believe the country owes me anything for doing so, but that my serving was partial payment on what I owe our country - a debt that can be never fully paid, but with my life. — Robert Hall

The United States has already passed on as the world's economic leader. Having flouted Thomas Jefferson for too long, America has succumbed to public debt, the 'fore horse for oppression and despotism,' after which 'taxation will follow, and in its train wretchedness and oppression. — Ilana Mercer

[I]f you look at United States history since World War II, you find that of the 10 presidents who preceded Barack Obama, seven left office with a debt ratio lower than when they came in. Who were the three exceptions? Ronald Reagan and the two George Bushes. — Paul Krugman

The truth is that the United States doesn't need, and shouldn't have, a debt ceiling. Every other democratic country, with the exception of Denmark, does fine without one. — James Surowiecki

To my mind, the main reason for the Depression in the United States as a whole, is the bondage of debt and the spirit of speculation among the people. — Heber J. Grant

To lay taxes to provide for the general welfare of the United States, that is to say, 'to lay taxes for the purpose of providing for the general welfare.' For the laying of taxes is the power, and the general welfare the purpose for which the power is to be exercised. They are not to lay taxes ad libitum for any purpose they please; but only to pay the debts or provide for the welfare of the Union. — Thomas Jefferson

AL QAEDA SPENT ABOUT $500,000 TO PRODUCE 9/11, WHEREAS THE direct losses of that day's destruction plus the costs of the American response to the attacks were $3.3 trillion. In other words, for every dollar Al Qaeda spent planning and executing the attacks, the United States spent $7 million.1 The costs of 9/11 equal one-fifth of the US national debt. In 2006, Hezbollah fired a precision-guided cruise missile at an Israeli ship — Moises Naim

I hope that the United States would cooperate with the partners to reduce its debt. The debt is a problem. The debt is with you, but unfortunately, the debt is not only with you but with us and with the rest of the world because we all, one way or another, are dependent on the dollar. — Sergei Lavrov

Alan Greenspan assures us that home prices are not prone to bubbles - or major deflations - on any national scale," he'd said. "This is ridiculous, of course ... . In 1933, during the fourth year of the Great Depression, the United States found itself in the midst of a housing crisis that put housing starts at 10% of the level of 1925. Roughly half of all mortgage debt was in default. — Michael Lewis

It is of the greatest consequence that the debt should ... be remoulded into such a shape as will bring the expenditure of the nation to a level with its income. Till this shall be accomplished, the finances of the United States will never wear proper countenance. Arrears of interest, continually accruing, will be as continual a monument, either of inability, or of ill faith and will not cease to have an evil influence on public credit. — Alexander Hamilton

In the United States we have the great Harvard Business School, but America is the country with the greatest debt in the world. — Maharishi Mahesh Yogi

Instead of focusing on growing jobs and reigniting our economy, President Obama focused on growing government and tried to remake the United States into the image of the debt-laden countries of Europe. His approach has been more spending, more regulation, and higher taxes. — Rob Portman

Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It's about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget. — Matt Taibbi

The United States owes a great debt to its inventors. Far from being grateful to them, it places every obstruction in their way and makes it enormously difficult to secure a patent. — Preston Sturges

The United States has an incredible debt. That is obviously not the way to live. You have to eliminate waste in your life as the United States has to eliminate waste in its spending. — Frederick Lenz

In a world dependent on international trade and commerce, and staggering under a heavy load of international debt, no policy is more destructive than protectionism. It cuts off markets, eliminates trade, causes unemployment in the export industries all over the world, depresses the prices of export commodities, especially farm products of the United States. It is the crowning folly of government intervention. — Hans F. Sennholz

Ron Paul's crazy talk about the Federal Reserve makes more sense these days. Right now, every - all this debt issued by the United States people assume the Chinese are buying, no they don't want any more American debt. Ron Paul has a point there. — Mark Steyn

I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama, who basically doesn't care about piling up debt. — Marc Faber

Comparing your family budget to the sovereign debt of the United States is a little like comparing two kindergartners tossing a paper airplane to the Apollo 11 mission. — Matt Taibbi

Figures cannot calculate the amount collected by those public and private robbers: it is more than would liberate every slave in the United States; it would pay the British debt! They say, We do not force people to give. I see no difference between forcing a man out of his money, at the mouth of a pistol, and forcing it from by trick and cunning; the crime is the same. — Anne Royall

It is the people who constitute the basis of Government credit. Why then cannot the people have benefit of their own gilt-edge credit by receiving non-interest bearing currency-instead of bankers receiving the benefit of the people's credit in interest-bearing bonds. If the United States Government will adopt this policy of increasing its national wealth without contributing to the interest collector-for the whole national debt is made up on interest charges-then you will see an era of progress and prosperity in this country such as could never have come otherwise. — Thomas A. Edison

Counting obligations under Medicare and Social Security, the real debt of the United States is more than 10 times the reported national debt. — Addison Wiggin

Raising the debt ceiling is not additional spending. It is simply saying, you, the United States of America, can continue to borrow the money you need to pay the bills you have already rung up. — Jay Carney

Back in July 2003, he'd written them a long essay on the causes and consequences of what he took to be a likely housing crash: "Alan Greenspan assures us that home prices are not prone to bubbles - or major deflations - on any national scale," he'd said. "This is ridiculous, of course ... . In 1933, during the fourth year of the Great Depression, the United States found itself in the midst of a housing crisis that put housing starts at 10% of the level of 1925. Roughly half of all mortgage debt was in default. During the 1930s, housing prices collapsed nationwide by roughly 80%. — Michael Lewis

And it's also producing a growth in debt to the United States that will weight very heavily in a country that has to address issues like having more old people to be covered by Social Security or by pension in the future. — Rodrigo Rato