"When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are always two sides to the balance sheet. And one party’s money or savings is another party"

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If you ask any economist, they'll tell you all the mortgage interest deduction does is raise the price of the house. So a couple is out looking at the house, they say, "Oh, we love this house, but we couldn't make the monthly payment." And the realtor says, "Yeah, but you're going to get a tax break." So people pay more than they would otherwise. You take a loss even though you're making a gain.

— T.R. Reid