The bailout of Fannie Mae is completely off the books. It's going to cost us hundreds of billions of dollars. Yet nobody is placing this in any type of column in accounting for federal debt.
Debt is part of the human condition. Civilization is based on exchanges - on gifts, trades, loans - and the revenges and insults that come when they are not paid back.
I think we are not serious about attacking the long-term debt problem, and that's one of the things that he's going to have to find a way to get on the agenda.
Using taxes to punish the rich, in reality, punishes everyone because we are all interconnected. High taxes and excessive regulation and massive debt are not working.
And here a most heinous charge is made, that the nation has been burdened with unnecessary expenses for the sole purpose of preventing the discharge of our debts and the abolition of taxes.
Some have been ensnared in the net of excessive debt. The net of interest holds them fast, requiring them to sell their time and energies to meet the demands of creditors. They surrender their freedom, becoming slaves to their own extravagance.
These subsidies from four European governments, which include aircraft launch assistance, capital injections, debt forgiveness, have enabled Airbus to develop and range market airliners well below cost.
Getting a family into work, supporting strong relationships, getting parents off drugs and out of debt - all this can do more for a child's well-being than any amount of money in out-of-work benefits.
The early part of my career I really struggled, getting turned down again and again. I was in debt, and it was horrible. And then my family hit such highs in their careers, I asked myself what I was thinking going into the same profession.
People should watch out for three things: avoid a major addiction, don't get so deeply into debt that it controls your life, and don't start a family before you're ready to settle down.
I'm a strange mixture of my mother's curiosity; my father, who grew up the son of the manse in a Presbyterian family, who had a tremendous sense of duty and responsibility; and my mother's father, who was always in trouble with gambling debts.
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 important that people know what raising the debt ceiling is. It's Congress giving permission to the federal government to borrow more money that we don't have, and we borrow it for the purpose of spending it.
The federal government now spends one of every four dollars in the entire economy. It borrows one of every three dollars it spends. No nation, no entity, large or small, public or private, can thrive, or survive intact, with debts as huge as ours.
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 ...
We have a government that borrows $4 billion a day. We have a government that owes trillions of dollars in debt, half of that to foreigners, most of that to Chinese investors. I don't - that is extreme. Not only is it extreme. It's insane and it's un...
President Obama's call for nearly a half-trillion dollars in more government stimulus when America has more than $14 trillion in debt is guided by his mistaken belief that we can spend our way to prosperity.
The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt.
Being unemployed is even more disastrous for individuals than you'd expect. Aside from the obvious harm - poverty, difficulty paying off debts - it seems to directly affect people's health, particularly that of older workers.
When I went to law school, which I put myself through for $100,000 dollars of debt, I didn't expect anybody to pay for my health insurance, which I had none of. No health insurance.
When your country is in a costly war, with our soldiers sacrificing abroad and our nation facing a debt crisis at home, being asked to pay your fair share isn't class warfare - it's patriotism.
