A Quote by Jay Leno
Obama called on Americans to have more grandchildren. Probably so there's more of them to pay off our debt.
Related Quotes
Back in 2008, candidate Obama called a $10 trillion national debt 'unpatriotic' - serious talk from what looked to be a serious reformer. Yet by his own decisions, President Obama has added more debt than any other president before him, and more than all the troubled governments of Europe combined. One president, one term, $5 trillion in new debt.
There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they've run up - to pay their mortgage debt, to pay the credit card debt, to pay student loans.
Pay off your debt first. Freedom from debt is worth more than any amount you can earn.
But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.
President Obama has almost doubled our national debt to more than $19 trillion, and growing. And yet, what do we have to show for it? Our roads and bridges are falling apart, our airports are Third World condition, and forty-three million Americans are on food stamps.
We should get young people to be more concerned about our debt and point out to them that promising them more all the time is a completely unsustainable way of being and that it's a lie to say that the top one percent are going to pay for it.
President Obama has piled on more taxes, more regulations, more debt for future generations and higher health care costs - hurting our Main Street economy.
Now we are raising the debt limit 3 times, up to $8 trillion, so that our children and our grandchildren will have to pay for the cost of our expenditures.
As more and more Americans own shares of stock, more and more Americans understand that taxing businesses is taxing them. Regulating businesses is taxing them. They ought to be thinking long-term about their ownership, not just their income, and that they should pay taxes on capital, as well as taxes on labor.
It seems to me that instead of cutting taxes, we ought to be increasing the taxes to pay off the deficit, rather than let that thing build up to the point where our grandchildren's grandchildren are going to be paying for our period of time and our years at the helm.
The U.S. has a law on the books called the debt limit, but the name is misleading. The debt limit started in 1917 for the purpose of facilitating more national debt, not reducing it. It still serves that purpose. It's unconnected to spending, hurts our credit rating and has been an abject failure at limiting debt.
The interesting thing about debt in most cases is that you have to pay it back. So if you build an overhang of debt, it becomes more and more limiting in terms of the prospect that you have.
I will bring our energy companies back. They'll be able to compete. They'll make money. They'll pay off our national debt. They'll pay off our tremendous budget deficits, which are tremendous.
What we are effectively doing, I say this to the young people of America whom my colleagues represent, is leaving our children and grandchildren the tab for fighting a war, letting them pay for the lion's share of it by simply adding it to the national 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.
If you ask the question of Americans, should we pay our bills? One hundred percent would say yes. There's a significant misunderstanding on the debt ceiling. People think it's authorizing new spending. The debt ceiling doesn't authorize new spending; it allows us to pay obligations already incurred.
Related Authors
Bill Maher Quotes
American
Comedian
Craig Ferguson Quotes
Scottish
Comedian
David Letterman Quotes
American
Comedian
Demetri Martin Quotes
American
Comedian
Ellen DeGeneres Quotes
American
Comedian
George Carlin Quotes
American
Comedian
Jim Gaffigan Quotes
American
Comedian
Jimmy Fallon Quotes
American
Comedian
Joan Rivers Quotes
American
Comedian
Mitch Hedberg Quotes
American
Comedian
P. J. O'Rourke Quotes
American
Comedian
Robin Williams Quotes
American
Comedian
Rodney Dangerfield Quotes
American
Comedian
Stephen Colbert Quotes
American
Comedian
Steve Martin Quotes
American
Comedian
Steven Wright Quotes
American
Comedian