A Quote by Thomas Jefferson
Big banks are more dangerous than standing armies, and the practice of borrowing and spending money to be paid back by the next generation is stealing from their future.
Related Quotes
I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
There is no practice more dangerous than that of borrowing money
Whether government finances its added spending by increasing taxes, by borrowing, or by inflating the currency, the added spending will be offset by reduced private spending. Furthermore, private spending is generally more efficient than the government spending that would replace it because people act more carefully when they spend their own money than when they spend other people's money.
I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the Government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs.
The problem is that borrowing money to pay back more borrowed money that will oblige you in the future to borrow even more money doesn't sound kosher. Because it isn't.
I sincerely believe... that banking establishments are more dangerous than standing armies.
There is no practice more dangerous than that of borrowing money; for when money can be had in this way, repayment is seldom thought of in time, the interest becomes a loss, exertions to raise it by dent of industry cease, it comes easy and is spent freely, and many things (are) indulged in that would never be thought of if (they were) to be purchased by the sweat of the brow.
I believe that banking institutions are more dangerous to our liberties than standing armies.
Whether they run a record company or a grocery store, every boss will tell you you're in big trouble if you're borrowing more than you can ever afford to pay back. Delaying the pain for future generations is suicidal. We've got to start getting the deficit down right now, not next year.
If borrowing and spending all this money led to more jobs than we would be at full employment already.
I think the critical point, really, is that we need to focus black economic empowerment more on the creation of new wealth rather than on these big deals that have been characteristic of this process in the past, of people going to banks, borrowing a lot of money, buying this and when the shares don't perform very well, the shares go back to the banks, because there's other people who own this anyway. I think we need to re-focus it so that it really does impact on growth, new investment, new employment and a general, better spread of wealth in South Africa.
The Fed has been acting in rare concert with central banks worldwide to encourage borrowing and spending - and risk. And because all the new money being unleashed has to flow somewhere, it's been flowing, among other places, into the equity markets.
That's the real secret to job creation - not borrowing and spending more money in Washington.
While the Left seems obsessed with increasing taxes and spending even more money, conservatives have focused more heavily on the need for spending restraint and entitlement reform - primarily to preserve and protect the future of the Medicare program. Overlooked in all of this is the future of Medicaid.
All taxpayers feel a tremendous sense of frustration as they see many tens of billions of dollars of bonuses paid to the same mega banks that were on the brink of bankruptcy and were only saved by massive government rescue money and support. We are not satisfied by the fact that many of them have paid the money back, nor should we be.
I don't remember ever stealing things, but I suppose I was endlessly borrowing money off people.
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