If you imagine that everything is an exchange, then we're supposed to just transact and walk away. If we haven't walked away and we still have a relationship, it's because there's a debt.
The thing is, Obama is right that it would be a calamity for the government to default on its debt by not meeting its obligations. Such a thing has never happened and can't be allowed to happen.
By no means run in debt: take thine own measure, Who cannot live on twenty pound a year, Cannot on forty.
Nobody wants the United States to default on its debt. Nobody. But, at some point in time, we've got to address the fiscal woes of this nation.
The reality for us in America is that we will never get out of debt with more than 15 million people out of work.
Raising the debt ceiling is not additional spending. It is simply saying, you, the United States of America, can continue to borrow the money you need to pay the bills you have already rung up.
When money's tight and is hard to get And your horse has also ran, When all you have is a heap of debt A PINT OF PLAIN IS YOUR ONLY MAN.
Economies typically do not function well in hyperinflation. The real value of government debt might disappear, but the economy is likely to disappear with it.
Inequality saps the economy by draining the buying power of Americans whose incomes have stagnated, forcing them to rely on debt to fund education, housing, and health care.
When you are continuing to be in debt or are going deeper into it, every time a creditor calls, it rubs your face not only in how vulnerable you are, but that people are out to get something from you that you don't have to give.
The Bible calls debt a curse and children a blessing. But in our culture we apply for a curse and reject blessings. Something is wrong with this picture.
We have nothing in our account but zeroes! And yet, because of His great love, God forgave us our astronomical debt.
At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.
You load 16 tons, and what do you get? Another day older and deeper in debt. St. Peter don't you call me 'cause I can't go. I owe my soul to the company store.
We agree with Simpson and Bowles and others who have looked at this. What's necessary is to stabilize the debt and then work from there. You can't balance the budget in the short term because to do that would be to ratchet down the economy.
Keep your debt low, and ask, Can your operational expertise make an impact? Then you're taking away a lot of the risk.
For many of us gratitude to others comes with a sense of debt that can never be fully paid and therefore the things we are thankful for are never really ours.
As the American people have discovered, soaring rhetoric is no substitute for effective leadership on the key issues facing our nation: jobs, runaway spending, and an exploding government debt.
There is, of course, a gold mine or a buried treasure on every mortgaged homestead. Whether the farmer ever digs for it or not, it is there, haunting his daydreams when the burden of debt is most unbearable.
It took the first 204 years of our Nation's history to accumulate $1 trillion in debt. And now we are doing that every 2 or 3 years.
If you put a purchase on a charge card, you're paying it off forever. You have to know how to pay it off before you go deeply in debt.
While payday loans are often the only source of credit for low-income Americans, these lenders are notorious for predatory practices that cause borrowers to fall deeper into debt.
It is a dangerous experiment to call in gratitude as an ally to love. Love is a debt which inclination always pays, obligation never.
OWE, v. To have (and to hold) a debt. The word formerly signified not indebtedness, but possession; it meant "own," and in the minds of debtors there is still a good deal of confusion between assets and liabilities.
The gift was not large as money goes, and my need was not great, but the spirit of the gift is beyond price and leaves me blessed and in debt.
We have to make it easier to afford to go into education in the first place, so you don't leave with crippling debt that you never have a chance to pay back because you're not making enough money.
It would be easier to pay off the national debt overnight than to neutralise the long-range effects of our national stupidity
I think...that I would rather recollect a life mis-spent on fragile things than spent avoiding moral debt.
The privatization plan weakens Social Security and threatens our economic security by creating trillions of dollars in new debt.
As the wedded pair have given each other power over their bodies, it would be a grave sin for one to refuse either altogether or for a considerable time the fulfilment of the marriage debt.
If the current birth rate, which is the lowest in the major developed countries, continues, there will be no Japanese. Who will pay the enormous debt?
When we realize how great a debt we owe to God, we become willing servants, eager to be poured out for God and His Kingdom.
They're all tied together: taxes, Medicare, Social Security, and the debt. We've got to have a setting of priorities, and looking at it - at each of them as disconnected, I think, doesn't properly address these major challenges.
I certainly would not deny that the Tea Party, the issues that they have looked at are certainly important to me as well... debt and deficit and recognition of the Constitution.
Pain and fear and hunger are effects of causes which can be foreseen and known: but sorrow is a debt which someone else makes for us.
The role James Baldwin played in my life is incommensurable as stated above. He helped, along with a few others, to shape the man that I am today. My debt to him is invaluable.
European centralism, European statism, the communitization of sovereign debt, a Europeanization of social systems and of the minimum wage would be the wrong way.
I've had enough of giving millionaires like Dick Cheney and myself tax breaks and giving America's kids a mountain of debt.
Student loan debt is the reason I don't advise students who want to become entrepreneurs to apply to elite, expensive colleges. They can be as successful if they go to a relatively inexpensive public college.
It is important that China stop its over-reliance on municipal debt to finance infrastructure. I take comfort in the fact that China's leaders understand this.
It is important to combine structural reforms and good fiscal stewardship with a growth strategy, because when your economy's growing and more revenue's coming in, that helps relieve debt.
We can pay the ecological debt by changing economic models, and by giving up luxury consumption, setting aside selfishness and individualism, and thinking about the people and the planet Earth.
Does it make all the difference in the world? No. But there's a great deal of symbolism associated with whether we're going to add $24 billion to the debt in unwanted and unnecessary pork-barrel projects.
Obama did inherit a deficit when he came into office. Why this fact justifies racking up vastly more debt and bigger deficits is a logical mystery.
President Obama flew to a rally in Las Vegas last night. However, he did not visit any of the casinos. You know why? When you're $16 trillion in debt, they don't let you in.
The Government of Iraq also owes a debt to the American and coalition forces who are fighting the insurgency and helping put that country back together after decades of repression.
We are far betting dealing with the big losses-death, divorce, debt, and debilitating illness-than with the daily onslaught of little losses.
You would expect to see that first in high-yield [debt], but it was in the most liquid thing in the world. So that, I think - it's a little bit of a warning that we've got to be prepared and just be careful.
An increase in the debt ceiling should be accompanied by fundamental policy reforms, substantial budget savings, and a strong enforcement mechanism to tie the hands of any future Congress.
If you don't have the money management skills yet, using a debit card will ensure you don't overspend and rack up debt on a credit card.
Without a trace of irony I can say I have been blessed with brilliant enemies. I owe them a great debt, because they redoubled my energies and drove me in new directions.
Right now the problem in Thailand is we have high debt, but we don't know how to earn the new source of revenue back to Thailand. This is my job.
We must stop spending money that we just don't have. Historic debt leads to historic tax increases, which stifle job growth.
It's a scary thing going into the workforce with a $50,000 debt and you've been trained as a classical theatre actor. There's always a depression in the theatre.
The young patriots now returning from war in Iraq and Afghanistan and other deployments worldwide are joining the ranks of veterans to whom America owes an immense debt of gratitude.
We have mountain of debt that isn't going away and all the problems are here to stay, and anybody who tells you that is a good thing ought to get out of the business of helping the government down the road.
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.
People like Pete Peterson, the former secretary of commerce and Blackstone and titan of Wall Street, etc., has been writing books for years about the debt and deficit.
In America, we tax work, investment, employment, savings, and production, while we subsidize non-work, consumption, and debt. It's time we reverse this trend.
In college, I studied political science, policy, and law. My plan was to move to New York, pay off student debt in a year or two, and then run for office.
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