Popular quotes about Debt! Wisdom and inspiration are here!
When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to mortgage debt, you are securing that credit card debt with your home. That's a risky proposition.
Jean ChatzkyI use a "Debt Dash" approach to paying off debt. I recommend people focus on paying off the debt with the lowest balance first. So if the primary has less debt you would focus on that.
Michelle SingletaryI don't understand how the Republican party is the party with the reputation for fiscal conservatism and fiscal sanity, when they're the ones who run up the debt. It was Reagan who ran up the debt and now Bush is doing it again, and in between, Clinton and Bush's father, I must say, worked so hard to get that deficit and that debt down.
Bill MaherThe model for our early bankruptcy laws was Deuteronomy, the idea that, under certain circumstances - in Deuteronomy, it is simply the passage of seven years' time - people are released from debt, simply because they are released from debt. No more debt. You start over again. This has been a very powerful model in this country. It's being destroyed now. People talk about how much new employment, new wealth, and so on are continuously generated in this country.
Marilynne RobinsonOur 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.
Franklin D. RooseveltThe 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 ArielyWhat we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.
James ChanosThe charge is prepared; the lawyers are met; The judges all ranged (a terrible show!) I go, undismay'd. For death is a debt, A debt on demand. So take what I owe.
John GayYou don't pay back your parents. You can't. The debt you owe them gets collected by your children, who hand it down in turn. It's a sort of entailment. Or if you don't have children of the body, it's left as a debt to your common humanity. Or to your God, if you possess or are possessed by one. The family economy evades calculation in the gross planetary product. It's the only deal I know where, when you give more than you get, you aren't bankrupted - but rather, vastly enriched.
Lois McMaster BujoldOur 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 BrownRepublicans drove us into debt with two wars and the Bush tax cuts. Now they want to pay for that debt with cuts to Social Security, Medicare and Medicaid. This is not only immoral it is bad economics. Why do Republicans always have money for war but not for those in need?
Bernie SandersThere's more student debt than credit card debt! Everywhere I go, I run into young people trying to build careers while they keep shelling out money on their education loans. If the economy is looking for a new generation of home-buyers, I can't imagine they'll get it from these folks.
Gail CollinsThe current U.S. and Eurozone depression isn't because of China. It's because of domestic debt deflation. Commodity prices and consumer spending are falling, mainly because consumers have to pay most of their wages to the FIRE sector for rent or mortgage payments, student loans, bank and credit card debt, plus over 15 percent FICA wage withholding for Social Security and Medicare actually, to enable the government to cut taxes on the higher income brackets, as well income and sales taxes.
Michael HudsonThe amount of U.S. debt held by countries such as China and Japan is at a historic high, with foreign investors holding half of America's publicly held debt. This dependence raises the specter that other nations will be able to influence our policies in ways antithetical to American interests.
Evan BayhI do think that all economies need a sense of fiscal discipline especially over the midterm and if you are in the middle of a debt crisis you can't borrow your way out of a debt crisis. That's logically impossible.
Stephen HarperThe national debt is totally unlike a family budget for about a gazillion reasons, not the least of which being that families cannot raise money by fiat or deflate the size of their debt unilaterally and that family members die instead of existing infinitely.
Matt TaibbiI've found that when you can quickly knock out debt you get motivated because you see progress. Then you attack the other debt so fast that even if it's at a higher interest rate, you don't end up paying much more because you've gotten rid of it.
Michelle SingletaryCounting obligations under Medicare and Social Security, the real debt of the United States is more than 10 times the reported national debt.
Addison WigginWho does his task from day to day and meets whatever comes his way, Believing God has willed it so, has found real greatness here below. Who guards his post, no matter where, believing God must need him there, Although but lowly toil it be, has risen to nobility. For great and low there's just one test, 'tis that each man shall do his best, Who works with all the strength he can, shall never die in debt to man.
Edgar GuestI look at my life today at 69 and I think about all the things that have happened after all my imprisonment. We truly live in an amazing country, America is where you can do things and pay your debt back to society and literally change your life if you want to.
Frank AbagnaleOWE, v. To have (and to hold) a debt. The word formerly signified not indebtedness, but possession; it meant "own," and in the minds of debtors there is still a good deal of confusion between assets and liabilities.
Ambrose BierceIf you raise taxes on millionaires and billionaires, you'll do nothing to address the debt and the deficit. And the thing you might do is you might finally put this economy over another cliff. These millionaires and billionaires are the folks that try to create jobs and help grow the economy.
Joe WalshThe Sikh gave him the money. When Menon asked for his address so that he could repay the man, the Sikh said that Menon owed the debt to any stranger who came to him in need, as long as he lived. The help came from a stranger and was to be repaid to a stranger.
Robert FulghumHillary 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 SteinLove is not a habit, a commitment, or a debt. It isn't what romantic songs tell us it is - love simply is.
Paulo CoelhoI go on the principle that a public debt is a public curse and in a republican government more than in any other.
James MadisonIn the great depression, things could only be set right by causing the idle plant to work again . . . Roosevelt . . . spent billions of public money and created a huge public debt, but by so doing he revived production and brought his country out of the depression. Businessmen, who in spite of such a sharp lesson continued to believe in old-fashioned economics, were infinitely shocked, and although Roosevelt saved them from ruin, they continued to curse him and to speak of him as 'the madman in the White House.' . . . [It's one more] striking example of inability to learn from experience.
Bertrand RussellCurrently, the United States has troops in dozens of countries and is actively fighting in Iraq, Syria, Libya, and Yemen (with the occasional drone strike in Pakistan). In addition, the United States is pledged to defend 28 countries in NATO. It is unwise to expand the monetary and military obligations of the United States given the burden of our $20 trillion debt.
Rand PaulYou'll have to have the governments sell off all of their public domains; sell off their railroads, sell off their public land. You'll essentially have to introduce neo-feudalism. You'll have to roll the clock of history back a thousand years, and reduce the European population to debt slavery. It's as simple a solution as the Eurozone has imposed on Greece. And it's a solution that the leaders and the banks are urging for responsible economists to promote for the population at large.
Michael HudsonAt a time when the average student is graduating from a four-year college $27,000 in debt, when hundreds of thousands of capable young people no longer see college as an option because of high costs and when the U.S. is falling further and further behind our economic competitors in terms of the percentage of young people graduating from college, no agreement should be passed which, over a period of years, makes a bad situation worse and will make college even less affordable than it is today.
Bernie SandersI think everybody benefitted from what I am calling a bubble finance system, a bubble economy and if we're ever going to right the system, we're going to have to stop this explosion of the federal debt. We need huge spending cuts, OK? Don't get me wrong, we need to raise regular taxes too but even beyond that it's not going to hurt if we want to reset the system to ask those who have benefitted disproportionately - remember, we got $60 trillion of net worth in the household sector. $45 trillion of that belongs to the top 5 percent.
David StockmanThere is slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That's a beautiful deleveraging.
Ray DalioA society is always eager to cover misdeeds with a cloak of forgetfulness, but no society can fully repress an ugly past when the ravages persist into the present. America owes a debt of justice which it has only begun to pay.
Martin Luther King, Jr.We are now speeding down the road of wasteful spending and debt, and unless we can escape we will be smashed in inflation.
Herbert HooverThe only way we will ever reduce the debt and balance the budget is if America beats Washington and tea party activists take over this process.
Matt KibbeWe rarely use much debt and, when we do, we attempt to structure it on a long-term fixed rate basis. We will reject interesting opportunities rather than over-leverage our balance sheet. This conservatism has penalized our results but it is the only behavior that leaves us comfortable, considering our fiduciary obligations to policyholders, depositors, lenders and the many equity holders who have committed unusually large portions of their net worth to our care.
Warren BuffettAs well as, we know, as a real estate developer, [Donald Trump] has hundreds of millions of dollars in debt, in loans.
George StephanopoulosMy debt to feminism is simply incalculable. Feminism allowed me to see past a 'reality' that I had once taken as a given. It helped me to pay attention to countless voices, my own included, that I had been taught 'don't count.' Feminism allows me to maintain hope.
Harriet LernerA point must be repeated: only the pathological weakness of the financial memory...allows us to believe that the modern experience of....debt...is in any way a new phenomenon.
John Kenneth GalbraithI can say that I'm a feminist and I try to be progressive and all that stuff. But I when I'm tired or when I've been thrown up on for the second time that I'm just a tired man trying to keep it together. I've had a lot of jobs over the years and people who make television - it's ridiculous how much they're lauded and paid. It's irresponsible and stupid. But it is hard work. It's very difficult to balance having three young kids and working like that. So I owe my wife an enormous debt of gratitude. I feel guilty that the kids had to be grown in her body and she hasn't been able to work.
Rob DelaneyIn Mexico, a poor country, higher education is of quite good quality -- and is free. Ten years ago the government tried to impose small fees. There was a national student strike and the government backed down. High tuition is not an economic necessity, as is easy to show, but a debt trap is a good technique of indoctrination and control. And resisting this makes good sense.
Noam ChomskyThere is a thing called clean coal. Coal will last for 1,000 years in America. Now we have natural gas and so many other things because of technology. We have unbelievable - we have found over the last seven years, we have found tremendous wealth right under our feet. So good. Especially when you have $20 trillion in debt.
Donald TrumpThe risk is that as we come out of this recession, we'll have so much debt to finance, we'll either have to have inflation or very high interest rates to continue to borrow the money, or both. That's a risk.
William J. Clinton