Quotes about the national debt
National Debt Quotes (9 quotes)
The Founders on debt
Blessed are the young for they shall inherit the national debt. A national debt, if it is not excessive, will be to us a national blessing. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. Never spend your money before you have earned it. Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and a great national debt.
Enter your search terms Submit search form. What Did President Bush Promise? At the rate it's going it will increase just as much as President Bush predicted it would decrease. Analytical Perspective, p. The budget deficit is projected to decline as the economy expands over the next several years, while most of the baby-boomers will remain in the work force. As the baby-boomers begin to reach retirement age in large numbers, the deficit begins to rise steadily. This process is projected to begin about 10 years from now, i.
Follow us! Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and a great national debt. Tags: William Cobbett. Tags: Alexander Hamilton. Tags: Herbert Hoover. We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much. Tags: Ronald Reagan.
Our founding fathers had some pretty firm ideas on national debt. Here are some selected quotes from a few of the founders on debt.
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Alexander Hamilton's most well-known quote with regards to debt is "A national debt will be to us a national blessing. Thus, this statement is often taken out of context. Many assume that Hamilton encouraged debt as a solution in general, or that he believed perpetual debt was beneficial. Those assumptions are far from the truth. Read the quotes below to get a better idea of how Hamilton viewed debt, including how it can be used to create credit, as well as the importance of paying it off. Important Note: It is critical to understand the context in which Hamilton wrote these letters and reports. The United States had already racked up millions in debt from the Revolutionary War.