A Quote by Mitch McConnell
I always think a debt ceiling is a good tool to carry something.
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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.
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.
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.
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.
Obama has been perhaps the most partisan President since Truman. He hasn't learned to be civil - note his insulting speech to Paul Ryan, who did us the courtesy of scoring a budget. The president has to talk to Republicans when it comes to the debt ceiling. He has reached the debt ceiling before anyone expected.
Good debt is a powerful tool, but bad debt can kill you.
The debt ceiling is not something to toy with.
An example of good debt is the debt on the apartment houses I own. That debt is good only as long as there are tenants to pay my mortgages. If tenants stop paying their rent, my good debt turns into bad debt.
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.
Are you a person—with volition and maybe some stubbornness and at least the capacity if not the actual determination to do something surprising—or are you a tool? A tool just serves its user. It’s only as good as the skill of its user, and it’s not good for anything else. So if you want to accomplish something special—something more than you can do for yourself—you can’t use a tool. You have to use a person and hope the surprises will work in your favor. You have to use something that’s free to not be what you had in mind.
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.
I think at the end of the day we have to raise the debt ceiling, because America pays its bills.
If we reach the debt ceiling, we don't have to default. Getting to that point just won't allow us to reach new debt.
When you don't have as much debt as we do, we don't have to worry about having this debt ceiling fight every single year. And I really think people are getting sick of having this news cycle every single year from Congress, from the Washington bubble.
The debate we won't be having is whether or not the debt ceiling should be raised. We will not have a situation where people will hold the American economy hostage in order to achieve a specific agenda - at least not until 2013. So we think that is incredibly important as a matter of economic good.
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.
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