National Debt Quotes

It would be easier to pay off the national debt overnight than to neutralise the long-range effects of our national stupidity

Our forefathers made one mistake. What they should have fought for was representation without taxation.

The National Debt is a very Good Thing and it would be dangerous to pay it off for fear of Political Economy.

It is a law of governance that democracies have to spend themselves dizzy. Citizens of democracies can, after all, tell their government to give them things.

When George Bush came into office, we had surpluses. And now we have half-a-trillion-dollar deficit annually. When George Bush came into office, our national debt was around $5 trillion. It's now over $10 trillion. We've almost doubled it.

If we do our deficit spending on weapons, at least we get weapons. Then if we need weapons, we have them. If we don't need them, no harm is done.

What were you two doing last night, discussing the national debt?

So it’s still standing?” he managed to get out between his snickers. “I would’ve thought you two had knocked it to rubble by now. What were you doing last night? Discussing the national debt?” Emmett howled with laughter.

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.

Because Social Security has not contributed to our debt, Americans should be skeptical of any politician who says that benefits Americans have earned must be reduced in order to address our national debt.

By making this wine known to the public, I have rendered my country as great a service as if I had enabled it to pay back the national debt.

Our nation stands at the crossroads of liberty. Crushing national debt, rampant illegal immigration, insane business regulations and staggering national unemployment are pushing our nation into unchartered territory.

I make a fortune from criticizing the policy of the government, and then hand it over to the government in taxes to keep it going.

The income tax created more criminals than any other single act of government.

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

No pecuniary consideration is more urgent, than the regular redemption and discharge of the public debt: on none can delay be more injurious, or an economy of time more valuable.

The national debt has given rise to joint stock companies, to dealings in negotiable effects of all kinds, and to agiotage , in a word to stock-exchange gambling and the modern bankocracy .

The current tax code is a daily mugging.

There's also consumer debt, the credit card debt that burdens many of the working families in America. Yes, we talk about national debt, and we're paying a lot down. But you're fixing to hear me tell you part of the remedy for people who have got a lot of credit card debt is to make sure people get some of their own money back.

The burden of the national debt consists not in its being so many millions, or so many hundred millions, but in the quantity of taxes collected every year to pay the interest. If this quantity continue the same, the burden of the national debt is the same to all intents and purposes, be the capital more or less.

Shouldn't someone tag Mr. Kennedy's bold new imaginative program with its proper age? Under the tousled boyish haircut is still old Karl Marx - first launched a century ago. There is nothing new in the idea of a Government being Big Brother.

I found this national debt doubled, wrapped in a big bow waiting for me as I stepped into the Oval Office.

Mr. Obama plans to boost federal spending 25 percent while nearly tripling the national debt over 10 years. Americans know that this kind of spending will have economic consequences, including new taxes being imposed by the new progressives.

The Citizen's Petition reflects Vermont's spirit of pragmatism and across-the-board cooperation. I applaud the 'Campaign to Fix the Debt' for calling attention to one of the country's most pressing problems, our ballooning national debt, and for urging policymakers to find practical solutions.

The blame for [the national debt] lies with the Congress and the President, with Democrats and Republicans alike, most all of whom have been unwilling to make the hard choices or to explain to the American people that there is no such thing as a free lunch.

Never spend your money before you have earned it.

We inherited a national debt that has doubled in eight years. Think of it - $20 trillion. It's doubled. And we inherited a foreign policy marked by one disaster after another. We don't win anymore. When was the last time we won? Did we win a war? Do we win anything? Do we win anything? We're going to win. We're going to win big, folks. We're going to start winning again, believe me.

On a nationwide basis, I would guess that the various churches would have to pay annually an amount at least equal to the national debt. But it's impossible for me to make an exact estimate, because the churches hide their wealth in every way they can - deliberate falsification as to the value of property, registering it under phony names in order to obscure the fact that the Church owns the property.

Our national debt after all is an internal debt owed not only by the Nation but to the Nation. If our children have to pay interest on it they will pay that interest to themselves. A reasonable internal debt will not impoverish our children or put the Nation into bankruptcy.

The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced. If the nation doesn't want to go bankrupt, people must again learn to work, instead of living on public assistance.

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.

Obama seemed poised to realign American politics after his stunning 2008 victory. But the economy remains worse than even the administration's worst-case scenarios, and the long legislative battles over health care reform, financial services reform and the national debt and deficit have taken their toll. Obama no longer looks invincible.

We now have a president who tries to save money by turning off lights in the White House, even as he heads toward a staggering addition to the national debt. "L.B.J." should stand for Light Bulb Johnson.

We must not let our rulers load us with perpetual debt.

Blessed are the young for they shall inherit the national debt.

The best thing we can do for family values is to repeal the income tax. Then families will have the resources they need to implement their own values - and not those of the politicians. With the income tax gone, families will no longer be forced to have two breadwinners by necessity. Children will be raised better, family values will predominate, and crime will diminish. If your local school indoctrinates your child with values that are alien to you, you'll have the money to buy a private education.

The only way to reduce our national debt is to grow the economy and cut spending. We have no idea how our money is being spent. As president, I will move all agencies to zero-based budgeting so that every agency has to justify every dollar that they spend.

His presidency ended more than a decade ago, but politicians, Democrat and Republican, still talk about Ronald Reagan. Al Gore has an ad noting that in Congress he opposed the Reagan budget cuts. He says that because Bill Bradley was one of 36 Democratic Senators who voted for the cuts. Gore doesn’t point out that Bradley also voted against the popular Reagan tax cuts and that it was the tax cuts that piled up those enormous deficits, a snowballing national debt.

I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country.

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government; I mean an additional article taking from the Federal Government the power of borrowing.

Mr. Obama denounced the $2.3 trillion added to the national debt on Mr. Bush's watch as 'deficits as far as the eye can see.' But Mr. Obama's budget adds $9.3 trillion to the debt over the next 10 years. What happened to Obama the deficit hawk?

I do not add a penny to the national debt.

When Hume and Adam Smith prophesied that a little increase of national debt beyond the then amount of it, would probably occasion bankruptcy; the main cause of their error was the natural one, of not being able to see the vast increase of productive power to which the nation would subsequently obtain.

At the time we were funding our national debt, we heard much about "a public debt being a public blessing"; that the stock representing it was a creation of active capital for the aliment of commerce, manufactures and agriculture. This paradox was well adapted to the minds of believers in dreams.

The unthinkable is that we're distorting this atmospheric balance. We're shifting the chemical balance so that we have more poisons in the atmosphere - ozones and acid rain on ground level - while we're also changing the thermal climate of the earth through the greenhouse effect and - get this - simultaneously causing destruction of our primary filter of ultraviolet light. It's incredible. Talk about the national-debt crisis - we're piling up debts in the atmosphere, and the piper will want to be paid.

Big banks churn out page after page of incomprehensible fine print to obscure the cost and risks of checking accounts, credit cards, mortgages and other financial products. The result is that consumers can't make direct product comparisons, markets aren't competitive, and costs are higher. If the playing field is leveled and the broken market fixed, a lot more money will stay in the pockets of millions of hard-working families. That's real stimulus - money to families, without increasing our national debt.

It [1991 Federal budget] contains almost 190,000 accounts. At a rate of one per minute, eight hours a day, it would take over a year to reflect upon these!

The refunding of the national debt at a lower rate of interest should be accomplished without compelling the withdrawal of the national-bank notes, and thus disturbing the business of the country.

It is of the greatest consequence that the debt should, with the consent of the creditors, 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 a 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.

We are not taught to fear our politicians, who can debase our currency, throw us in prison and send us to war - but rather we are taught to fear each other. We are taught to imagine that the real predators in this world are not those who control prison cells, national debts and nuclear weapons, but rather our fellow citizens, who in the absence of brutal control would surely tear us apart!