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.
Besides, we had a large debt, contracted at home and abroad in our War of Independence; therefore the great power of taxation was conferred upon this Government.
Government bonds have basically been sold in the domestic market, so there is some sense of stability, but the amount of public debt is really severe... Japan must manage its finances with a sense of urgency.
I think, my generation, it's hard to have hope when you got a $700-trillion derivatives debt to pay and a bubble about to explode and $500 trillion worth of GDP.
We are a big country, with lots of advantages and history. We are proud to be French. We have to call on patriotism at this time... to ask for an effort in the battle against debt.
It's disappointing that President Obama - who ran for office in 2008 saying he was going to be a fiscally responsible president - has caused the largest deficits and the largest debt in American history.
Liberalism does not preclude an organisation of the flow of money in which some channels are used in decision making while others are only good for the payment of debts.
I mean, the world has already done a big, big effort to forget debt to countries heavily indebted and with low income. And that has given good chances to countries to get out of poverty.
While restoring a sense of fiscal discipline to Congress is a top priority, infrastructure spending is an important and necessary task of government. Our nation's long-term debt requires us to prioritize and economize with every tax dollar.
They have seized upon the government by bribery and corruption. They have made speculation and public robbery a science. They have loaded the nation, the state, the county, and the city with debt.
There was a real fear that a euro-zone bank might fail, that we'd have a sovereign debt problem in one of the larger European economies. That's dissipated, thanks largely to the action of the European Central Bank.
This time, instead of moving oceans and healing planets, let's get our bills in order and pay down the debt so we control our own future.
We have to honor our commitments to today's beneficiaries, but we can't solve the growing deficit and debt problems unless we are smart, courageous, and sensible in planning for future.
And it's also producing a growth in debt to the United States that will weight very heavily in a country that has to address issues like having more old people to be covered by Social Security or by pension in the future.
We need to focus on getting people back to work, focus on jobs, the economy, the debt and the spending. That's what will improve the quality of life for American families and for hard-working taxpayers.
Greece is a medium-sized country in Europe. Our debt accounts for only 2.5 percent of the total of all members of the euro zone.
But the debt limit obviously is something that needs to and will be passed. That is not inconsistent with a process and a belief that we have to get significant deficit reduction.
All Americans owe a debt of gratitude to Dr. King for his bravery and commitment to civil rights and nonviolence that changed this nation - and world - for the better.
To my mind, the main reason for the Depression in the United States as a whole, is the bondage of debt and the spirit of speculation among the people.
always serve too much hot fudge sause on the hot fudge sundaes.It makes people overjoyed,and puts them in your debt
Our nation owes a debt of gratitude to the 9/11 Commission members for their valuable service and important recommendations to improve homeland security.
