Quotes About Debt

What most young people don't understand is that SAVING is more important in the beginning than finding the best performing investment. Having the ability to "Pay yourself first," manage your debt load, and determine a vision of what you want to accomplish is vital to your success.

Look, the president is elected to lead and to face the country's biggest challenges. The country's biggest challenge domestically speaking, no doubt about it, is a debt crisis, and I'm really hoping that he is going to give us a budget that tackles this debt crisis.

If we could figure out ways for kids to exit college without having the burden of debt, what we have really figured out is how to create a more fertile breeding ground for people who can think innovatively and progress us as a species.

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.

I've made a payroll. I know what it's like to execute a business plan. I know what it's like to expect the proper return on investment... and I know you can't spend your way out of debt.

It's disrespectful to tell the French in the morning that you're going to reduce the debt, in the evening that you're not going to make any savings, and the next morning, after thinking about it, that you're going to spend more.

You cannot just keep borrowing more and more and keep spending more and more without eventually having a day of reckoning.

Something different has to be done before we make another budget deal that increases spending and raises the debt some more. Our current course is not reasonable. Our current course is insane.

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.

When government borrowing and spending go up, private borrowing and spending go down.

We are spending more money on bond holders than we are on our own citizens. It took 204 years to have this happen. The other party will not even allow a recorded vote on this issue so that we can see how people stand on that issue.

The debt and the deficit is just getting out of control, and the administration is still pumping through billions upon trillions of new spending. That does not grow the economy.

Borrowing and spending is not the way to prosperity.

My point is cutting spending shouldn't be reliant on the debt limit though. It's something we have to do. The good news for America is, leaders in both parties, the president, believe that we have to have significant deficit reduction. So the intent is there. And I think what America is going to demand is that our leaders come together.

If we had decided on January 5, in the new House of Representatives, to make no new spending bills, the debt ceiling would've still been hit, because, those are bills that are coming in as a result of purchases and commitments made by the administration and the previous Congress.

I am perfectly happy to compromise and work with anybody: Republicans, Democrats, Libertarians - I'll work with Martians if - and the if is critical - they're willing to cut spending and reduce the debt.

Raising the debt limit on some levels is a ministerial act. It doesn't involve any new spending.

Families out there know that if they get in trouble and they've spent up a bunch of money and they've borrowed and they are up to hock to their necks, the thing they've got to do is start paying off what they owe and cut back their spending.

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.

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 U.S. has a law on the books called the debt limit, but the name is misleading. The debt limit started in 1917 for the purpose of facilitating more national debt, not reducing it. It still serves that purpose. It's unconnected to spending, hurts our credit rating and has been an abject failure at limiting debt.

It's time to stop spending money we don't have and balance the budget.

I think the skyrocketing cost of a college education has placed it in the sphere of being a luxury-priced necessity.

Somehow there was a lack of communication - She thought he said: "Till debt do us part."