Popular quotes about Debt! Wisdom and inspiration are here!
Most people don't know this, but if you settle a debt for less than the amount you owed, you are potentially responsible for taxes on the forgiven debt. Look at it this way: You received goods and services for the full amount of debt, but you're only paying for a portion of it - sometimes less than 50%. Anything more than $600 is generally considered taxable, but the IRS will sometimes waive the tax if you can prove that your assets were less than your liabilities when the debt was settled.
Jean ChatzkyBad karma is the spiritual debt one has accumulated for one's mistakes from all previous lives and this life. It includes killing, harming, taking advantage, cheating, stealing, and more. On Mother Earth, when you buy a house, you take out a mortgage from a bank. This mortgage is your debt to the bank. You pay every month for fifteen, twenty, or thirty years to clear your financial debt. In the spiritual realm, if you have bad karma, you may have to pay for many lifetimes to clear your spiritual debt.
Zhi Gang ShaThe companies that provide debt, what do you think their goal is? Is their goal for you to fully understand the cost of your debt? No. So they're basically creating these approaches to make you feel like it is incredibly cheap or just to think about the cost per day rather the cost per year or cost for a lifetime. So debt is very simple mistake.
Dan ArielyVirtually all student debt in the US is now held by the federal government. It would therefore be a relatively simple matter to forgive some, if not all of it. This would enable young people to transition much more easily into creating their own households and families. At the same time, if the government is going to enact a major program of student debt forgiveness, it should be at least equally committed to relieving the heavy mortgage debt burdens still carried by tens of millions of non-affluent households in the aftermath of the 2007-09 financial crash and Great Recession.
Robert PollinIf you have a sane economy, and by sane economy I mean one which is not addicted to debt, not a Ponzi economy, then the change in debt each year should contribute a minor amount to demand. Therefore, if you tried to correlate debt to the level of unemployment you would not find much of a correlation. Unfortunately that is not the economy we live in.
Steve KeenI don't need debt. And if I need debt, if I want debt, I can get it from banks in New York City very easily.
Donald TrumpYou [Donald Trump] call yourself the King of Debt. You talk about leverage. You even at one time suggested that you would try to negotiate down the national debt of the United States.
Hillary ClintonThe most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to carry this debt. [...] The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real estate prices rather than to build new factories and employ more labor.
Michael HudsonWe don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much.
Ronald ReaganOur approach is to reject the old vicious circle of the '80s-rising debt, higher long-term interest rates, higher debt repayment costs, lower growth, higher unemployment, then enforced cuts in public spending. That was the old boom and bust.
Gordon BrownI've got a chart here that shows our debt-to-GDP ratio. And while we did run deficits in the past, we now number our debt in trillions rather than in billions. And I think that represents a long-term danger, especially to the, the American dream.
Mark KirkOnce you get into debt, itโs hell to get out. Donโt let credit card debt carry over. You canโt get ahead paying eighteen percent.
Charlie MungerMany more people could ride out the storm-tossed waves in their economic lives if they had their year's supply of foodโฆand were debt-free. Today we find that many have followed this counsel in reverse: they have at least a year's supply of debt and are food-free.
Thomas S. MonsonIf you are, consolidating at a lower interest rate can help you pay off your debt faster. But if there's even a small chance that you'll spiral back into debt, it's not for you.
Jean ChatzkyI am prepared to discuss the things that I believe we need to do not just to raise the debt limit. Raising the debt limit is the easiest thing. That's one vote away. The hard thing is to show the world we are serious about putting our spending in order so we can show people we'll able to pay our bills down the road.
Marco RubioWhat God may have enabled me to do is but a repayment of debt, and he who repays a debt deserves no praise.
Mahatma GandhiThe debt limits have to come down. The whole world of debt has to be changed as far as this country is concerned. We have to create jobs and we have to create them rapidly because if we don't things are just going to head in a direction that's going to be almost impossible to recover from.
Donald TrumpHenry James once defined life as that predicament which precedes death, and certainly nobody owes you a debt of honor or gratitude for getting him into that predicament. But a child does owe his father a debt, if Dad, having gotten him into this peck of trouble, takes off his coat and buckles down to the job of showing his son how best to crash through it.
Clarence Budington KellandIt's very painful to be in debt. I'm the kind of person who would rather almost die than go into debt.
Mark HelprinIf the prodigal quits life in debt to others, the miser quits it still deeper in debt to himself.
Charles Caleb ColtonThe spirit in which a thing is given determines that in which the debt is acknowledged; it's the intention, not the face-value of the gift, that's weighed.
Seneca the YoungerI took a sheet of paper, divided it into debt and credit columns on the arguments for and against God and immortality. On Christmas Eve I wrote 'bankrupt' at the foot. And it was on Christmas morning 1895, after I had celebrated three Masses, while the bells of the parish church were ringing out the Christmas message of peace, that, with great pain, I found myself far out from the familiar land--homeless, aimlessly drifting. But the bells were right after all; from that hour on I have been wholly free from the nightmare of doubt that had lain on me for ten years.
Joseph McCabeThere is a debt of service due from every man to his country, proportioned to the bounties which nature and fortune have measured to him.
Thomas JeffersonI am quite likely to re-act to the opposite extreme - to feel rapturously that the world is beautiful and mere existence something to thank God for. I suppose our 'blues' are the price we have to pay for our temperament. 'The gods don't allow us to be in their debt.' They give us sensitiveness to beauty in all its forms but the shadow of the gift goes with it.
Lucy Maud MontgomeryHumans are such creatures of habit that once they get us in all this debt that we accumulate from going college that we have to work it off for the rest of our lives.
Asher RothThe idea that somebody is going to come in and make your debt go away and all be well for the future is really a fantasy.
Victoria MoranThe debt immense of endless gratitude, So burthensome, still paying, still to owe; Forgetful what from him I still receivd, And understood not that a grateful mind By owing owes not, but still pays, at once Indebted and dischargd; what burden then?
John MiltonHillary Clinton and Bernie Sanders talked about free public higher education going forward, but not dealing with this burden of debt, which has really locked a generation into kind of a hopeless future right now.
Jill Stein[People] want to see great trade deals, they want to see a strong military. They want to see reduced debt, because we are at a point where we are going to be soon at $19 trillion and they just, you know, they can't stand seeing it.
Donald TrumpYou must, to get through life well, practice industry with economy, never create a debt for anything that is not absolutely necessary, and if you make a promise to pay money at a day certain, be sure to comply with it. If you do not, you lay yourself liable to have your feelings injured and your reputation destroyed with the just imputation of violating your word.
Andrew JacksonI can scarcely contemplate a greater calamity that could befall this country, than be loaded with a debt exceeding their ability ever to discharge. If this be a just remark, it is unwise and improvident to vest in the general government a power to borrow at discretion, without any limitation or restriction.
Marcus Junius Brutus the YoungerToday we have access to highly advanced technologies. But our social and economic system has not kept up with our technological capabilities that could easily create a world of abundance, free of servitude and debt.
Jacque FrescoSolvency is maintained by means of a national debt, on the principle, "If you will not lend me the money, how can I pay you?"
Ralph Waldo EmersonCivilization has given us enormous successes: going to the moon, technology. But then this is the civilisation that took us to debt, environmental crisis, every single crisis. We need a civilization where we say goodbye to these things.
Muhammad YunusThere are four headwinds that are just hitting the American economy in the face: They're demographics, education, debt and inequality. They're powerful enough to cut growth in half.
Robert J. GordonIf you imagine that everything is an exchange, then we're supposed to just transact and walk away. If we haven't walked away and we still have a relationship, it's because there's a debt.
David GraeberTerrorism, War & Bankruptcy are caused by the privatization of money, issued as a debt and compounded by interest.
Napoleon BonaparteTo me, there is no greater threat than our debt. I'm the only fiscal conservative on the stage because I'm willing to hold the line on all spending.
Rand PaulIn FY 2006, interest payments alone on the national debt cost us $406 billion. . . . What a waste. . . . That $406 billion is pathetically squandered on interest, just because we lacked the discipline to pay our bills when due.
Bill PressIn the meantime, we have just incredible economic disparities and economic despair in this country and an entire generation that is basically held hostage in debt without the jobs to get out of it. And this is not a world that's working for us, and the climate is going up in flames right now, and the wars are expanding, and we've got 2,000 nuclear weapons on hair-trigger alert. This is not a good picture, and I think the American people are discovering that.
Jill SteinThe only team that believed in me was the Saints, and I feel like I owe them a great debt of gratitude. I want to give them what they saw in me-a guy who could lead this team to a championship.
Drew BreesEven the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.
Henry David ThoreauAt some point, the world is going to have to bite the bullet and accept a huge downsizing in its way of life to bring the assets-to-debt ratio back in touch with reality.
John L. CastiThe debt ceiling at some point has to be raised. I don't think there's anybody that questions the fact that if we ended up getting in a situation where the U.S. government was sending out IOUs like the state of California did at one point, that ends up creating quite a brand problem for our country.
Bob CorkerOur debt to tradition through reading and conversation is so massive, our protest so rare and insignificant-and this commonly on the ground of other reading and hearing-that in large sense, one would say there is no pure originality. All minds quote. Old and new make the warp and woof of every moment. There is no thread that is not a twist of these two strands. By necessity, by proclivity, and by delight, we all quote. It is as difficult to appropriate the thoughts of others as it is to invent.
Ralph Waldo Emerson