Quotes About Debt

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.

You 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.

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.

It's the [George Bush] president's fiscal policies that have driven up the biggest deficits in American history. He's added more debt to the debt of the United States in four years than all the way from George Washington to Ronald Reagan put together.

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

It's not debt per say that overwhelms an individual corporation or country. Rather it is a continuous increase in debt in relation to income that causes trouble.

From my point of view it's impossible to cut debt in a country with new debt from another country.

Solving a problem created by debt... by creating more debt is a fool's errand.

Good debt is a powerful tool, but bad debt can kill you.

The government can reasonably rely on debt ratings when it forms programs to lend money to buyers of otherwise unattractive debt instruments.

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 have serious concerns about whether it's prudent to give any foreign country substantial leverage over the U.S. economy. Instead of spending $80 billion on important programs here at home, we're sending this money overseas just to pay interest on our debt.

Hillary 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.

The most important loan to pay is your student loan. It's more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases.

It takes as much imagination to create debt as to create income.

Confession of sins is not meritorious: to confess sins as a way of placing God in your debt is not dealing with sin; it is committing another sin. The context of all confession must be the free grace of justification.

I 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.

A national debt, if it is not excessive, will be to us a national blessing.

History tells us that the threat to prosperity is not debt but socialism.

I 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.

There 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.

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.

We are far betting dealing with the big losses-death, divorce, debt, and debilitating illness-than with the daily onslaught of little losses.

Sometimes I go to God and say, "God, if Thou dost never answer another prayer while I live on this earth, I will still worship Thee as long as I live and in the ages to come for what Thou hast done already. God’s already put me so far in debt that if I were to live one million millenniums I couldn’t pay Him for what He’s done for me.

We are the most in-debt, obese, addicted and medicated adult cohort in U.S. history.

In 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.

The 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.

Why do we need money beyond a point? If we are free of ill health, enmity, and debt, is that not enough? Too much money only leads to less peace.

It's very hard for students not to be in debt unless they've got big scholarships or rich parents. And it's called investing in your future, but like any investment it's risky because your future is an unknown quantity. However, if you don't invest in your future, you may be flipping hamburgers for the rest of your life. So it's a real dilemma.

If you'll have enough saved and nobody has to take on debt and you want to retire, shoot go for it.

There are many kinds of adult adversities that can provoke severe psychological distress, including debt and unemployment, dysfunctional marital relationships and occupational stress. The reality is that the social causes of mental ill-health are all around us.

Our folks have a lot of passion. They're very concerned about the direction of the country and concerned the record debt and deficit and what it means for their kids, concerned about the economy and the fact that we're not getting back on track with the weakest economic recovery since the Great Depression. And at the end of the day, I think that's going to make the difference.

We have gotten so nuanced into social issues that we fail to understand that China is buying up America, we have fallen into debt in such a pervasive way that social security is compromised, we are living longer than we lived before and in order to secure the kind of healthcare that we need without the deficits on our budget, we need really strong leadership that is focused only on the plethora of issues and not just the traditional concerns that have driven us to the ballot box.

Julia progresses from cradle to grave, showing how government makes every good thing in her life possible. The weak economy, high unemployment, falling wages, rising gas prices, the national debt, the insolvency of entitlements - all these are fictionally assumed away in a cartoon that is produced by a president who wants us to forget about them.

You're nothing in America if you don't have debt.

All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.

Just praise is only a debt, but flattery is a present.

If you're thinking of debt, that's what you're going to attract.

Washington's answer to a self-inflicted financial crisis reminded Americans why they so deeply distrust the political class. The 'fiscal cliff' process was secretive and sloppy, and the nation's so-called leadership lacked the political courage to address our root problems: joblessness and debt.

The collateralized debt obligation, the CDO, is a structure which allows you to more or less continuously choose how much risk you want to take in a whole batch of securities. And the reason why they got us into so much trouble is that it's hard to figure out how much risk you really are taking.

I do not add a penny to the national debt.

The Federal Reserve will not monetize the debt.

We have a government that borrows $4 billion a day. We have a government that owes trillions of dollars in debt, half of that to foreigners, most of that to Chinese investors. I don't - that is extreme. Not only is it extreme. It's insane and it's unsustainable.

Are we as willing to go into debt for the work of God as we are for a vacation to Hawaii?

Never, be argued out of your soul, never be argued out of your honor, and never be argued into believing that soul and honor do not run a terrible risk if you limp into life with the load of a debt on your shoulders.

At issue is not whether the global economy will pass away. It is passing away. Rising populations and debt combined with depletion of freshwater sources and fossil fuel make the status quo untenable. The only question is whether civil society will survive the transition.

Germany will always do the minimum to preserve the euro. Doing the minimum, though, will perpetuate the situation where the debtor countries in Europe have to pay tremendous premiums to refinance their debt. The result will be a Europe in which Germany is seen as an imperial power that will not be loved and admired by the rest of Europe - but hated and resisted, because it will perceived as an oppressive power.

Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.