A Quote by Mark Kirk
Every American born today owes $43,000 to the federal government the day she or he is born. And we are transferring a tremendous amount of debt to the new generation, much of it owed to overseas creditors who expect to be repaid by our children with interest.
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Because reverse mortgages do not require borrowers to make immediate repayments, the interest charges are added to the debt every day, and the total amount owed grows over time.
When Kate was born, she was born into a world of joy and happiness and confidence. The difference between the children is night and day. She's happy, she's thriving, she's full of self-confidence. I tell her she's beautiful every day before I send her off to school.
Our 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.
Right now, a majority of the debt is owed to foreign interests, Japan being the largest purchaser of government debt today, soon to be surpassed by China as the number one purchaser of our debt in this Nation.
I can't tell you how much debt I took on to attend New York University because, at the time, I didn't care to notice. And besides, what teenager has a clue about interest rates? What I can tell you is that by my mid-20s, I owed somewhere around $50,000.
The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government Bonds from the U.S. Treasury...and has created out of nothing a ... debt which the American people are obliged to pay with interest.
When compassion for the common man was born on Christmas Day, with it was born new hope among the multitudes. They feel a great, ever-rising determination to lift themselves and their children our of hunger and disease and misery, up to a higher level. Jesus started a fire upon the earth, and it is burning hot today, the fire of a new hope in the hearts of the hungry multitudes.
Our sixth child, MariaVictoria, when she was born, before any of us could hand MariaVictoria to my wife Rachel, Uncle Sam stepped in and handed her a bill for $43,000.
The truth, Prime Minister, is that you have run out of our money. The country as a whole is now in negative equity. Every British child is born owing around 20,000 pounds. Servicing the interest on that debt is going to cost more than educating the child.
If the US Government was a family—they would be making $58,000 a year, spending $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.
The federal government turns away thousands of applicants to AmeriCorps every year. Our service men and women returning from overseas want to continue to serve. Children from every corner of the country can't wait to volunteer.
Shipping first time code is like going into debt. A little debt speeds development so long as it is paid back promptly with a rewrite. The danger occurs when the debt is not repaid. Every minute spent on not-quite-right code counts as interest on that debt. Entire engineering organizations can be brought to a standstill under the debt load of an unconsolidated implementation, object-oriented or otherwise.
I was born in Okinawa, but on a U.S. Army base. And my father is Japanese-American which means that he is second generation, but my mom was born in the Philippines and raised in Okinawa. So, how do you know where you are generationally from? I can claim all three legitimately, but I like to say that I am third generation American.
...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 problem is that the way [President] Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents - number 43 added $4 trillion dollars by his lonesome - so that we now have over $9 trillion dollars of debt that we are going to have to pay back. [That's] $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic.
I was born in the U.S., my wife was born in Mexico and emigrated here when she was in college, and my daughters were born in New York City. That makes them passport-carrying, natural-born, eligible-to-run-for-president Americans. But they're also Mexicans and they like that just fine.
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