Quotes About Debt

People tend to think that paying a debt is like going out and buying a car, buying more food or buying more clothes. But it really isn't. When you pay a debt to the bank, the banks use this money to lend out to somebody else or to yourself. The interest charges to carry this debt go up and up as debt grows.

People think of a business cycle, which is a boom followed by a recession and then automatic stabilizers revive the economy. But this time we can't revive. The reason is that every recovery since 1945 has begun with a higher, and higher level of debt. The debt is so high now, that since 2008 we've been in what I call, debt deflation.

A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.

I 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.

You're my friend, Danny. You understand? There's no debt between friends." Maybe it's just that the debt gets so high you stop counting it.

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.

I will always vote what I have promised, and always vote the Constitution, as well as I will not vote for one single penny that isn't paid for, because debt is the monster, debt is what's going to eat us up and that is why our economy is on the brink.

I 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.

We still think of air as free. But clean air is not free, and neither is clean water. The price tag on pollution control is high. Through our years of past carelessness we incurred a debt to nature, and now that debt is being called.

Pay off your debt first. Freedom from debt is worth more than any amount you can earn.

The jobs that have come back have been extremely insecure low-wage benefit poor temporary jobs. Young people are screwed. They don't have a way to pay off their debt. And when they discover that they could come out and vote Green to cancel that debt, that I am the one candidate who will bail out the students like we bailed out the crooks on Wall Street, then it becomes an irresistible motivation to actually come out and vote Green.

The Catholic community, with many others, has long worked for this new commitment on global health and debt relief (President George W. Bushs proposed $15 billion Global AIDS initiative). I hope that Congress will now appropriate the money needed to make this legislation a reality, and that the U.S. government will press for strengthening the debt relief program along the lines proposed by this legislation.

If you are able to settle, you'll be getting off rather easy. Debt settlement companies can sometimes get you off the hook for a large percentage of your debt - in many cases, up to 50% will be written off.

Increasing America’s debt weakens us domestically and internationally. Leadership means that 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership.

I'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.

The Republican argument that raising the debt ceiling encourages additional future spending is logically irresponsible. The debt ceiling has to be raised to authorize spending already approved by Congress. Despite that fallacy, the GOP has been able to score political points with its argument.

Debt is to man what the serpent is to the bird; its eye fascinates, its breath poisons, its coil crushes sinew and bone, its jaw is the pitiless grave.

There is a debt of service due from every man to his country, proportioned to the bounties which nature and fortune have measured to him.

I 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.

I acknowledge that such a debt [of service to my fellow-citizens] exists, that a tour of duty in whatever line he can be most useful to his country, is due from every individual. It is not easy perhaps to say of what length exactly that tour should be, but we may safely say of what length it should not be. Not of our whole life, for instance, for that would be to be born a slave-not even of a very large portion of it.

I want to make college debt-free and for families making less than $125,000, you will not get a tuition bill from a public college or university if the plan that I worked on with Bernie Sanders is enacted.

I 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.

The national debt will have increased by approximately 50% in just eight years! We will have created a new unfunded entitlement - disability and health care benefits for the huge number of disabled veterans returning from the Iraq war.

Our real debt ceiling isn't decided by Washington; it's decided by Beijing.

Credit and debt keep us fixated on the past and the future.

We ask these players to do some very difficult things, for the team, the coaching staff, the school - at risk of injury. And when they do those things, I feel as if I'm in their debt. It's an honor to coach those guys. I want to be of service to them.

I will hurt you for this. I don't know how yet, but give me time. A day will come when you think yourself safe and happy, and suddenly your joy will turn to ashes in your mouth, and you'll know the debt is paid.

The 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.

The 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.

Debt, weve learned, is the match that lights the fire of every crisis. Every crisis has its own set of villains - pick your favorite: bankers, regulators, central bankers, politicians, overzealous consumers, credit rating agencies - but all require one similar ingredient to create a true crisis: too much leverage.

I've always been terrified about not having money. I've been a big saver and a big earner. When I've been out of work, I've always found another job. I never wanted to get into debt, because money was very tight when I was growing up. I never felt deprived, but I couldn't have the things I wanted.

Solvency is maintained by means of a national debt, on the principle, "If you will not lend me the money, how can I pay you?"

The first point of justice ... consists in piety; nothing certainly being so great a debt upon us as to render to the Creator and Preserver those acknowledgments which are due to Him for our being and the hourly protection He affords us.

The fore horse of this frightful team is public debt. Taxation follow that, and in its turn wretchedness and oppression.

When a man is in love or in debt, someone else has the advantage.

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.

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.

At 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.

New Zealand as a whole needs to save more, spend less and reduce our reliance on foreign debt.

...100% of what is collected is absorbed solely by interest on the Federal Debt...all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government.

The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer. And the plan does nothing to resolve the severe stress in money markets and interbank markets that are now close to a systemic meltdown.

The Canadian debt-to-GDP ratio will continue to decrease every year, including the first three years under the Liberal government. That is what we're focused on. We know we need to invest in the kind of long-term growth and short-term job creation that Canadians expect, and Liberals the only party offering to do that.

I urge you to live within your means. One cannot spend more than one earns and remain solvent. I promise you that you will then be happier than you would be if you were constantly worrying about how to make the next payment on nonessential debt.

Even 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.

At 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.

Like almost everyone who uses e-mail, I receive a ton of spam every day. Much of it offers to help me get out of debt or get rich quick. It would be funny if it weren't so irritating.

Debt is part of the human condition. Civilization is based on exchanges - on gifts, trades, loans - and the revenges and insults that come when they are not paid back.

Main Street has too much debt already. It is simply a bonanza for speculators who can borrow the overnight money and then buy something that they can speculate on.