I think it's scary for consumer confidence and for confidence in U.S. businesses and potential credit ratings if we don't make sure that we raise that debt ceiling.
There's also consumer debt, the credit card debt that burdens many of the working families in America. Yes, we talk about national debt, and we're paying a lot down. But you're fixing to hear me tell you part of the remedy for people who have got a lot of credit card debt is to make sure people get some of their own money back.
Americans reading the paper, listening to the news every single day, and all you hear is things are getting worse and worse. And that has a psychological effect on consumer confidence. That's what consumer confidence is.
Debt ceiling is something that, you know, any time the president asks for the authority to increase the debt ceiling, the debt burden on our children and grandchildren, I think that requires a pretty serious discussion, robust debate.
Meaningful rules in the consumer credit market can accelerate economic recovery. Rules would increase consumer confidence and, more importantly, weed out all the tricks and traps that sap families of billions of dollars annually.
With the realization of ones own potential and self-confidence in ones ability, one can build a better world. According to my own experience, self-confidence is very important. That sort of confidence is not a blind one; it is an awareness of ones own potential. On that basis, human beings can transform themselves by increasing the good qualities and reducing the negative qualities.
The president says we need to raise the debt ceiling because America pays its bills. No if we paid our bills we wouldn't have all this debt. The reason we have to raise the debt ceiling is because we can't pay our bills and we have to borrow money because we don't have any money to pay our bills.
I think the whole issue of a debt ceiling makes no sense to me whatsoever. Anybody who is remotely adroit at arithmetic doesn't need a debt ceiling to tell you where you are.
Underlying the whole scheme of civilization is the confidence men have in each other, confidence in their integrity, confidence in their honesty, confidence in their future.
We have to keep the momentum going in the economy. And we have to make sure that we give small businesses as much cash and liquidity as possible so they have the confidence to hire that next worker.
I think at the end of the day we have to raise the debt ceiling, because America pays its bills.
Confidence is not lodged in people's brains, it comes from the support system that surrounds them. Let's not confuse confidence overall with just self-confidence. Self-confidence is only one part of confidence. People also need confidence in others - their colleagues and leaders - that they can count on them to do the right thing and not to let them down.
Credit means that a certain confidence is given, and a certain trust reposed. Is that trust justified? And is that confidence wise? These are the cardinal questions. To put it more simply credit is a set of promises to pay; will those promises be kept?
Bad debt is debt that makes you poorer. I count the mortgage on my home as bad debt, because I'm the one paying on it. Other forms of bad debt are car payments, credit card balances, or other consumer loans.
Nature has written a letter of credit upon some men's faces that is honored wherever presented. You cannot help trusting such men. Their very presence gives confidence. There is promise to pay in their faces which gives confidence and you prefer it to another man's endorsement. Character is credit.
To be sure, the provision of liquidity alone can by no means solve the problems of credit risk and credit losses; but it can reduce liquidity premiums, help restore the confidence of investors, and thus promote stability.
Do people have confidence? I think the real confidence you need is the confidence in your outlook, and I think people are pretty confident it is a low-growth world.