What we also have to recognize is that the deficit levels that I'm inheriting, over a trillion dollars, coming out of last year, that that is unsustainable. At a certain point, other countries stop buying our debt, at a certain point, we'd end up having to raise interest rates, and it would end up creating more economic chaos and potentially inflation.
Barack ObamaIn America, we've set up a system whereby when you take on college debt, you will never have to pay more than 10 percent of your income in repayments. And what that will do is make sure that you will never be prevented from going to school just because of money. We want to make sure that you and others like you can succeed.
Barack ObamaWe can lead this world and make it safer and more secure for our children and our grandchildren, for generations to come.
Barack ObamaNobody gets to threaten the full faith and credit of the United States just to extract political concessions.
Barack Obama