Quotes about debt
page 4

“The administration, through senior Air Force officials, wants the U. S. to achieve military supremacy in outer space. Dominating all earth from outer space will have an out-of-world price tag, perhaps more than $1 trillion.A question: Why reach for the stars with guns in our hands? Are there weapons of mass destruction on Mars?Yesterday 28 Members of Congress signed on to H. R. 2420, a bill to stop the weaponization of space, urging the President to sign an international treaty to ban such weapons. If we work together towards creating peace on earth, we would not bring war to the high heavens.While some fantasize about being "masters of the universe," there are 45 million Americans without health insurance. Corporations are reneging on pension obligations. Social Security is under attack. We are headed towards a $400 billion annual budget deficit, a $600 billion trade deficit, an $8 trillion national debt. The cost of the war in Iraq is over $200 billion. While we build new bases in Iraq, we close them in the United States.Earth to Washington, D. C. Earth to Washington, D. C. D. C., call home.”

Dennis Kucinich (1946) Ohio politician

Speech on the floor of the House of Representatives, Congressional Record (19 May 2005) http://frwebgate1.access.gpo.gov/cgi-bin/waisgate.cgi?WAISdocID=239723145903+0+0+0&WAISaction=retrieve.

War, Health, World, Peace

“While the mathematicians were still looking askance at the Greek gift of the irrational number, the Hindus of India were preparing another brain-teaser, the negative number, which they introduced about A. D. 700. The Hindus saw that when the usual, positive numbers were used to represent assets, it was helpful to have other number represent debts.”

Morris Kline (1908–1992) American mathematician

Source: Mathematics and the Physical World (1959), pp. 49-50.

Help

“What should have occurred after the fall of the Berlin Wall? For almost 50 years, America had sacrificed its wealth and at times the lives of its young, to contain armed communism. Its brave pilots risked their lives by skimming the hills of Western Europe to the great annoyance of German picnickers whose liberty depended, in fact, on such sacrifice. Its submariners left behind comfort, family, and friends, to make full deterrents real. Its men and women in uniform stood at places of peril, willing to risk their lives for our liberty. The West did whatever it had to do to prevent the armed Bolsheviks from achieving tactical or strategic superiority. It sustained its will and its great burden of debt even when its artists, college students, professors, authors and filmmakers, turned against the alleged folly of such efforts. It obsessed on communism and anti-communism; it was haunted by its own and its enemy's bombs, missiles, and nuclear strategies. This was the burden it chose to bear. And then, in a seeming miracle, the fatal weaknesses of tyranny, central planning, and il-liberalism, at a moment of American will, were actualized in the collapse of European communism. Now we could assess and do a real accounting of what we had fought to preserve and to prevent.”

Alan Charles Kors (1943) American academic

2010s, Socialism's Legacy (2011)

Women, Men, Family, Communication

“Tangibles trump conceptuals. Modern fiat currencies are generally accepted, but have essentially no backing. Because they are largely a by-product of interest-bearing debt, modern currencies are destined for inflation. In the long run, inflation dooms fiat currencies to collapse. The majority of your assets should be invested in productive farmland and other tangibles such as useful hand tools. After you have your key logistics squared away, anything extra should be invested in silver and gold.”

James Wesley Rawles (1960) Survivalist-fiction author and blogger

Source: How to Survive the End of the World as We Know It, Plume, New York (2009), p. 14

“If any person had told the Parliament which met in terror and perplexity after the crash of 1720 that in 1830 the wealth of England would surpass all their wildest dreams, that the annual revenue would equal the principal of that debt which they considered an intolerable burden, that for one man of £10,000 then living there would be five men of £50,000, that London would be twice as large and twice as populous, and that nevertheless the rate of mortality would have diminished to one half of what it then was, that the post-office would bring more into the exchequer than the excise and customs had brought in together under Charles II, that stage coaches would run from London to York in 24 hours, that men would be in the habit of sailing without wind, and would be beginning to ride without horses, our ancestors would have given as much credit to the prediction as they gave to Gulliver's Travels.”

Thomas Babington Macaulay, 1st Baron Macaulay (1800–1859) British historian and Whig politician

From Edinburgh Review, 1830
Attributed

Men, Dreams, Travel, Horse

“The fact that we have been forgiven our debts does not mean that our president has to use the donkey as a means of travel. Does this also mean we can't buy clothes and therefore walk naked?”

Basil Mramba (1940) Tanzanian politician

Quoted in "Tanzania defends presidential jet plans," http://news.bbc.co.uk/2/hi/africa/2146298.stm BBC News (2002-07-23). Mramba was defending the purchase of a Presidential Jet while he was the Minister of Finance.

Travel, Clothes

“Management's objective is to achieve a return on capital over the long term which averages somewhat higher than that of American industry generally — while utilizing sound accounting and debt policies.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

29 March 1974
Letters to Shareholders (1957 - 2012)

“The gentleman has not seen how to reply to this, otherwise than by supposing me to have advanced the doctrine that a national debt is a national blessing.”

Daniel Webster (1782–1852) Leading American senator and statesman. January 18, 1782 – October 24, 1852. Served as the Secretary of Sta…

Second Reply to Hayne (1830)

“There can be no freedom or beauty about a home life that depends on borrowing and debt.”

Henrik Ibsen (1828–1906) Norwegian playwright, theatre director, and poet

Torvald Helmer, Act I
A Doll's House (1879)

Life, Beauty, Home, Freedom

“I ask you, will I solve our civil rights problems? Will I unite this country and bring it forward? Will I obliterate the national debt? [long pause] Sure, why not? Thank you.”

Pat Paulsen (1927–1997) United States Marine

Unidentified press conference, 1968 Featured in Pat Paulsen for President (1968), part 2 of 6 http://www.youtube.com/watch?v=KbP0ufyax5A&feature=relmfu, 01:54 ff (10:54 ff in full program)

Problem, Country

“Reckless people have deluded themselves that this was a subprime crisis. But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts… We have a subprime financial system, not a subprime mortgage market.”

Nouriel Roubini (1958) American economist

Quoted in Stephen Mihm, "Dr. Doom," http://www.nytimes.com/2008/08/17/magazine/17pessimist-t.html?_r=1&oref=slogin The New York Times (2008-08-15).

People, Home, Problem

“General Public Services will acquire the next highest share at 16.2%, followed by Debt Burden which will obtain 15.3% of the total budget. Although the Defense Sector will get the lowest share at 4.4%, it will reflect the highest percentage increase at 29% inclusive of an additional P25.988 billion for the General Headquarters, AFP, AFW-Wide Service Support units for its modernization program and an additional P9.497 billion to be sourced from the Miscellaneous Personnel Benefits Fund (MPBF). Let me now proceed Mr. President to the House-approved Budget or the General Appropriations Bill.”

Francis Escudero (1969) Filipino politician

2014, Speech: Sponsorship Speech for the FY 2015 National Budget

Support, Housing

“I do feel somewhat guilty that I'm not more grateful to Jesus, but I just wish he had asked me before he went ahead with it [being crucified], because now I feel like I'm being billed for something I didn't order. Because that's the deal, isn't it? If you're a Christian, you're born already in debt to Jesus, and it's a debt you can only repay, in full, by dying. That's some deal you've got yourself into there; that's like being asked to pay off a mortgage for a house you already own.”

Pat Condell (1949) Stand-up comedian, writer, and Internet personality

"Hello angry Christians" (26 September 2007) http://youtube.com/watch?v=atTSwau9fwM 2007

Feeling, Housing

“I actually think it will be interesting to listen to the President tonight. What I'd like him to do is report on his promises but there are forgotten promises and forgotten people. Over the last four years, the President has said that he was going to create jobs for the American people and that hasn't happened. He said he would cut the deficit in half and that hasn't happened. He said that incomes would rise and instead incomes have gone down. And I think this is a time not for him not to start restating new promises but to report on the promises he made. I think he wants a promises reset. We want a report on the promises he made. And that means let's hear some numbers. Let's hear 16. Sixteen trillion dollars of debt. This is very different than the promise he made. Let's hear the number 47. 47 million people in this country on food stamps. When he took office, 33 million people were on food stamps. Let's understand why it was he's been unsuccessful in helping alleviate poverty in this country. Why so many people have fallen from the middle class into poverty under this president. Let's have him explain to the American people the 50% number. Why 50% of college graduates can't find work or work that is consistent with their college degree. The President needs to report tonight on his promises rather than try and reset a whole series of new promises that he also won't be able to keep.”

Mitt Romney (1947) American businessman and politician

2012-09-06
http://mittromneycentral.com/2012/09/06/romney-on-obamas-speech-tonight-americans-want-a-report-on-presidents-promises/
Romney on Obama’s Speech Tonight: Americans Want A Report On President’s Promises
Mitt Romney Central
2012

People, Food, Understanding, Thinking

“[G]iven our inability over the past two decades to deal with an unbreakable chain of unemployment, debt, inflation and no real growth, we have drifted farther and farther out into a cold, unfriendly, confusing sea. The new certitude of those in positions of authority — those out of the water — is that the certain answer is to cut away the life preservers.”

John Ralston Saul book The Unconscious Civilization

The Unconscious Civilization (1995)

Life, Water, Past, Sea

“In point of material wealth and resources, we are greatly in advance of them. The taxable property of the Confederate States cannot be less than twenty-two hundred millions of dollars! This, I think I venture but little in saying, may be considered as five times more than the colonies possessed at the time they achieved their independence. Georgia, alone, possessed last year, according to the report of our comptroller-general, six hundred and seventy-two millions of taxable property. The debts of the seven confederate States sum up in the aggregate less than eighteen millions, while the existing debts of the other of the late United States sum up in the aggregate the enormous amount of one hundred and seventy-four millions of dollars. This is without taking into account the heavy city debts, corporation debts, and railroad debts, which press, and will continue to press, as a heavy incubus upon the resources of those States. These debts, added to others, make a sum total not much under five hundred millions of dollars. With such an area of territory as we have-with such an amount of population-with a climate and soil unsurpassed by any on the face of the earth-with such resources already at our command-with productions which control the commerce of the world-who can entertain any apprehensions as to our ability to succeed, whether others join us or not?”

Alexander H. Stephens (1812–1883) Vice President of the Confederate States (in office from 1861 to 1865)

The Cornerstone Speech (1861)

World, Thinking, Time, Wealth

“Solvency is maintained by means of a national debt, on the principle, "If you will not lend me the money, how can I pay you?"”

Ralph Waldo Emerson English Traits

English Traits (1856), reprinted in The Prose Works of Ralph Waldo Emerson, Vol. 2 (Boston: Fields, Osgood, & Co., 1870), p. 206 ( full text at GoogleBooks http://books.google.com/books?id=21IRAAAAYAAJ&pg=PA206)

Money

“It is better to have a plain, substantial building, with no extravagance about it, but without a debt, than to have the most splendid specimen of Gothic architecture that is overlaid by a mortgage.”

William Mackergo Taylor (1829–1895) American theologian

Source: Dictionary of Burning Words of Brilliant Writers (1895), P. 151.

“Bitter for a free man is the bondage of debt.”
Alienum aes homini ingenuo acerba est servitus.

Publilio Siro Latin writer

Maxim 14
Sentences
Variant: "Debt is the slavery of the free."

“Is there no reconciliation of some ancient quarrel, no payment of some long outstanding debt, no courtesy or love or honor to be rendered to those to whom it has long been due; no charitable, humble, kind, useful deed, by which you can promote the glory of God, or good-will among men, or peace upon earth? If there be any such, I beseech you, in God's name, in Christ's name, go and do it.”

Arthur Penrhyn Stanley (1815–1881) English churchman, Dean of Westminster

Source: Dictionary of Burning Words of Brilliant Writers (1895), P. 204.

Love, Men, God, Peace

“She had called in the debt that parents owe a child for bringing her, unasked, into a strange world. One should never make an offer without knowing full well what will happen if it is accepted.”

David Brin book The Uplift War

Source: The Uplift War (1987), Chapter 73 (p. 480)

World, Parent

“I paid the price of solitude but at least I'm out of debt.”

Bob Dylan (1941) American singer-songwriter, musician, author, and artist

Song lyrics, Planet Waves (1974), Dirge

Solitude

“You cannot take away freedom to protect it, you cannot destroy the free market to save it, and you cannot uphold freedom of speech by silencing those with whom you disagree. To take rights away to defend them or to spend your way out of debt defies common sense.”

Glenn Beck (1964) U.S. talk radio and television host

The Reshaping and Redefining of America
Glenn Beck's Common Sense: The Case Against an Out-of-Control Government, Inspired by Thomas Paine
2009-06-16
Threshold Editions
1439168571
17
2000s, 2009

Way, Sense, Freedom, Silence

“There are four headwinds that are just hitting the American economy in the face. They're demographics, education, debt and inequality. They're powerful enough to cut growth in half. So we need a lot of innovation to offset this decline. And here's my theme: Because of the headwinds, if innovation continues to be as powerful as it has been in the last 150 years, growth is cut in half. If innovation is less powerful, invents less great, wonderful things, then growth is going to be even lower than half of history.”

Robert J. Gordon (1940) American economist

Robert Gordon. " The death of innovation, the end of growth https://www.ted.com/talks/robert_gordon_the_death_of_innovation_the_end_of_growth/transcript," TED Talk, April 2013.

Education, History

“The Mosaic dispensation was better adapted to prevent the commission of sin than the Christian system. Under that dispensation, if you committed a sin, you had to bring a sacrifice—dove, sheep, or bullock, now, when a sin is committed, the Christian says, “Charge it,” “Put it on the slate, If I don’t pay it the Savior will.” In this way, rascality is sold on a credit, and the credit system of religion breeds extravagance in sin. The Mosaic dispensation was based upon far better business principles. The debt had to be paid, and by the man who owed it. We are told that the sinner is in debt to God, and that the obligation is discharged by the Savior. The best that can be said of such a transaction is that the debt is transferred, not paid. As a matter of fact, the sinner is in debt to the person he has injured. If you injure a man, it is not enough to get the forgiveness of God—you must get the man’s forgiveness, you must get your own. If a man puts his hand in the fire and God forgives him, his hand will smart just as badly.”

Robert G. Ingersoll (1833–1899) Union United States Army officer

Some Reasons Why (1881)

God, Religion, Way, Forgiveness

“And any practice, recommended to him, which either serves to no purpose in life, or offers the strongest violence to his natural inclinations; that practice he will the more readily embrace, on account of those very circumstances, which should make him absolutely reject it. It seems the more purely religious, because it proceeds from no mixture of any other motive or consideration. And if, for its sake, he sacrifices much of his ease and quiet, his claim of merit appears still to rise upon him, in proportion to the zeal and devotion which he discovers. In restoring a loan, or paying a debt, his divinity is nowise beholden to him; because these acts of justice are what he was bound to perform, and what many would have performed, were there no god in the universe. But if he fast a day, or give himself a sound whipping; this has a direct reference, in his opinion, to the service of God. No other motive could engage him to such austerities. By these distinguished marks of devotion, he has now acquired the divine favour; and may expect, in recompence, protection and safety in this world, and eternal happiness in the next.”

David Hume The Natural History of Religion

Part XIV - Bad influence of popular religions on morality
The Natural History of Religion (1757)

Life, God, Happiness, World

“There’s a serious danger that the college education bubble may burst. As more and more people get college degrees, which inevitably have to become easier to get in order to increase the amount of graduates beyond its realistic levels, the market will eventually figure out that the degree doesn’t mean what it used to. It will become less useful as a heuristic for intelligence and achievement. And college graduates will find themselves with an asset—a degree—whose value is dropping while their debt remains high.”

John Carney

" What Obama Should Have Told The Kids Today http://www.businessinsider.com/john-carney-what-obama-should-have-told-the-kids-today-2009-9," The Business Insider magazine, 8 September 2009.

People, Education, Intelligence

“What is the "cost of capital" to a, firm in a world in which funds are used to acquire assets whose yields are uncertain; and in which capital can be obtained by many different media, ranging from pure debt instruments, representing money-fixed claims, to pure equity issues, giving holders only the right to a pro-rata share in the uncertain venture? This question has vexed at least three classes of economists: (1) the corporation finance specialist concerned with the techniques of financing firms so as to ensure their survival and growth; (2) the managerial economist concerned with capital budgeting; and (3) the economic theorist concerned with explaining investment behavior at both the micro and macro levels.”

Merton Miller (1923–2000) American economist

Franco Modigliani and Merton H. Miller. "The cost of capital, corporation finance and the theory of investment." The American economic review (1958): 261-297.

Money, World, Behavior, Question

“I, however, place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

Letter to William Plumer (21 July 1816)
1810s

Fear

“Sarah Palin: That was another one of those WTF moments, when he so often repeated the "Sputnik moment" that he would aspire Americans to celebrate, and he needs to remember that, uh, what happened back then with the former Communist USSR and their victory in that, uh, er, race, to space. Yeah, they won but they also incurred so much debt at the time that it, it resulted in the inevitable collapse of the Soviet Union. So I listen to that "Sputnik moment", uh, talk over and over again and I think no, we don't need one of those.”

Sarah Palin (1964) American politician

On the Record w/Greta Van Susteren
Television
Fox News
2011-01-26
Palin Calls Obama's Sputnik Analogy A "WTF Moment"
2011-01-26
Media Matters
http://mediamatters.org/mmtv/201101260055
2011-01-27
Jed
Lewison
Palin completely misunderstands what "Sputnik Moment" means
2011-01-27
Daily Kos
http://www.dailykos.com/storyonly/2011/1/27/939263/-Palin-completely-misunderstands-what-Sputnik-Moment-means
2011-01-27
referring to Barack Obama saying of investing in biomedical research, information technology, and clean energy, "This is our generation's Sputnik moment."
2014

Thinking, Time, Victory

“The debt was the most sacred obligation incurred during the war. It was by no means the largest in amount. We do not haggle with those who lent us money. We should not with those who gave health and blood and life. If doors are opened to fraud, contrive to close them. But don’t deny the obligation, or scold at its performance.”

Rutherford B. Hayes (1822–1893) American politician, 19th President of the United States (in office from 1877 to 1881)

About the Arrears of Pensions Act (1879) for disabled Union veterans, which Hayes cheerfully signed, which was roundly criticized as too expensive and too open to fraud by unscrupulous veterans fabricating service-related injuries.
Letter to William Henry Smith (19 December 1881)
Diary and Letters of Rutherford Birchard Hayes (1922 - 1926)

Life, Money, War, Health

“Money as a medium of exchange becomes important when workers are paid in medium of exchange rather than in wage goods directly. Since wage goods constitute the majority of goods produced (particularly in the early stages of development), it is tempting (but misleading) to focus on exchanges and on money as a medium of exchange [like the neo-classicals]. Once capitalist production dominates the economy, money becomes universally important: money operates as a medium of exchange and money hoards provide a measure of security. However, production involves goods and services now in exchange for a promise to pay in the future. That is, money is involved in the production process because production is time-based and involves debt commitments. If one only focuses on the use of money in exchange or as a store of value, one ignores how money creation is inextricably related to time-based production in private property economies.”

L. Randall Wray (1953) American economist

Source: Money and Credit in Capitalist Economies, 1990, p. 10; Cited in Howard Stein. "Theories of institutions and economic reform in Africa." World Development 22.12 (1994): 1833-1849.

Money, Universe, Time, Future

“A paper monetary standard means there are no restraints on the printing press or on federal deficits. In 1971, M3 was $776 billion; today it stands at $8.9 trillion, an 1100% increase. Our national debt in 1971 was $408 billion; today it stands at $6.8 trillion, a 1600% increase. Since that time, our dollar has lost almost 80% of its purchasing power. Common sense tells us that this process is not sustainable and something has to give. So far, no one in Washington seems interested.”

Ron Paul (1935) American politician and physician

Paper Money and Tyranny, September 5, 2003 http://www.house.gov/paul/congrec/congrec2003/cr090503.htm 2000s, 2001-2005

Sense, Time

“What is a debt, anyway? A debt is just the perversion of a promise. It is a promise corrupted by both math and violence.”

David Graeber (1961) American anthropologist and anarchist

Source: Debt: The First 5,000 Years (2011), Chapter Twelve, "1971–The Beginning…", p. 391

“The public-choice theorists would have us believe that nobody ever gets involved in governments or the political arena out of a desire to accomplish public goals…. Needless to say, the notion that citizens would voluntarily band together to fight injustice and poverty in faraway parts of the world is incomprehensible to this kind of thinking. This perhaps explains the frequent attempt to dismiss those in the anti-globalization movement as nothing more than a group of self-seeking opportunists - as if there is some kind of money to be made in championing debt elimination for the Third World.”

Linda McQuaig (1951) journalist and author

All You Can Eat: Greed, Lust and the New Capitalism (2001)

Money, World, Thinking, Fight

“What did trust, cooperation, progressive taxation and the interventionist state bequeath to western societies in the decades following 1945? The short answer is, in varying degrees, security, prosperity, social services and greater equality. We have grown accustomed in recent years to the assertion that the price paid for these benefits—in economic inefficiency, insufficient innovation, stifled entrepreneurship, public debt and a loss of private initiative—was too high. Most of these criticisms are demonstrably false.”

Tony Judt (1948–2010) British historian

Ill Fares the Land (2010), Ch. 2 : The World We Have Lost

Loss, Falseness

“No debts. I have very little debt to anybody. I don't need debt. You know, it's very interesting, I'm so liquid, I don't need debt. And if I need debt, if I want debt, I can get it from banks in New York City very easily.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, July, This Week Interview (July 30, 2016)

“[Mim, to Nelson, after discussing Annabelle's stepfather being dead] "More and more is dead, are you old enough to notice? Vegas is dead, the way it was. […] Now it's herds. Herds and herds of Joe Nobodies. Bozos. The hoi pollio, running up credit-card debt. Gambling is legal in half the states so they've built these huge moron-catchers along the Strip, all the way to the airport. A Pyramid, the Eiffel Tower, Venice – it's all here, Nelson, all for the morons. It's depressing as hell."”

John Updike book Rabbit Remembered

Rabbit Remembered (2000)

Way, Hell, Dead

“A trifling debt makes a man your debtor; a large one makes him an enemy.”
Leve aes alienum debitorem facit, grave inimicum.

Seneca the Younger (-4–65 BC) Roman Stoic philosopher, statesman, and dramatist

Source: Epistulae Morales ad Lucilium (Moral Letters to Lucilius), Letter XIX: On worldliness and retirement, Line 11.

“Last month, at the grave of her husband, Michael, a CIA officer and Marine who died in Mazur-e-Sharif, Shannon Spann said these words of farewell, 'Semper Fi, my love'. Shannon is with us tonight. Shannon, I assure you and all who have lost a loved one that our cause is just, and our country will never forget the debt we owe Michael and all who gave their lives for freedom.”

George W. Bush (1946) 43rd President of the United States

2000s, 2002, State of the Union address (January 2002)

Love, Freedom, Country, Forgetting

“A pretext presented itself; some insult needed to be avenged, or some debt to be collected. Six battleships, fourteen cruisers, and eighteen transports sailed up the mouth of the river Hippopotamus. Six hundred canoes vainly opposed the landing of the troops. Admiral Vivier des Murenes' cannons produced an appalling effect upon the blacks, who replied to them with flights of arrows, but in spite of their fanatical courage they were entirely defeated. Popular enthusiasm was kindled by the newspapers which the financiers subsidised, and burst into a blaze. Some Socialists alone protested against this barbarous, doubtful, and dangerous enterprise. They were at once arrested.”

Anatole France book Penguin Island

Book VII : Modern Times, Ch. IX : The Final Consequences
Penguin Island (1908)

Courage

“The last best hope on earth, two trillion dollars in debt, is spinning out of control, and all we can do is stare at a flickering cathode-ray tube as Ollie "answers" questions on TV while the press, resolutely irrelevant as ever, asks politicians if they have committed adultery. From V-J Day 1945 to this has been, my fellow countrymen, a perfect nightmare.”

Gore Vidal (1925–2012) American writer

"Ollie" (1987) [Ollie = Oliver North ]
1980s, At Home (1988)

Hope, Question, Perfection

“991. Speake not of my debts, unlesse you mean to pay them.”

George Herbert (1593–1633) Welsh-born English poet, orator and Anglican priest

Jacula Prudentum (1651)

“The sum which two married people owe to one another defies calculation. It is an infinite debt, which can only be discharged through all eternity.”

Johann Wolfgang von Goethe book Elective Affinities

Bk. I, Ch. 9
Elective Affinities (1809)

People

“"Wakefield" prefigures Franz Kafka, but the latter modifies, and sharpens, the reading of "Wakefield." The debt is mutual; a great writer creates his or her precursors. He or she creates them and in some fashion justifies them.”

Jorge Luis Borges book Other Inquisitions

"Nathaniel Hawthorne"
Other Inquisitions (1952)

Fashion, Reading

“The life of a republic lies certainly in the energy, virtue, and intelligence of its citizens; but it is equally true that a good revenue system is the life of an organized government. I meet you at a time when the nation has voluntarily burdened itself with a debt unprecedented in our annals. Vast as is its amount, it fades away into nothing when compared with the countless blessings that will be conferred upon our country and upon man by the preservation of the nation's life. Now, on the first occasion of the meeting of Congress since the return of peace, it is of the utmost importance to inaugurate a just policy, which shall at once be put in motion, and which shall commend itself to those who come after us for its continuance. We must aim at nothing less than the complete effacement of the financial evils that necessarily followed a state of civil war.”

Andrew Johnson (1808–1875) American politician, 17th president of the United States (in office from 1865 to 1869)

Quote, First State of the Union Address (1865)

Life, War, Peace, Intelligence

“What happened in 1828 is also a very curious fact. 1828 was a crucial moment in the history of the tariff, because the national debt was just being paid off, and so the income from the tariff would produce a surplus in the treasury. And at that time, there was a great fear that a surplus in the federal treasury might be used to buy the freedom of slaves.”

Harry V. Jaffa (1918–2015) American historian and collegiate professor

2000s, The Real Abraham Lincoln: A Debate (2002), Rebuttal

Fear, History, Freedom, Time

“These contributions [federal taxes on consumption of foreign goods] enable us to support the current expenses of the Government, to fulfill contracts with foreign nations, to extinguish the native right of soil within our limits, to extend those limits, and to apply such a surplus to our public debts as places at a short day their final redemption, and that redemption [of debt] once effected," he said, "the revenue thereby liberated may, by a just repartition among the States and a corresponding amendment of the Constitution, be applied, in time of peace, to rivers, canals, roads, arts, manufactures, education, and other great objects within each State. In time of war,—if injustice, by ourselves or others, must sometimes produce war,— increased as the same revenue will be increased by population and consumption, and aided by other resources reserved for that crisis, it may meet within the year all the expenses of the year without encroaching on the rights of future generations by burdening them with the debts of the past. War will then be but a suspension of useful works, and a return to a state of peace a return to the progress of improvement.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

Advising the origination of an annual fund from surplus revenue.
1800s, Second Inaugural Address (1805)

War, Education, Peace, Art

““The mission I am on overrides all personal debts and loyalties.”
“If so,” said the stranger with fierce certainty, “it is an immoral mission.””

Ursula K. Le Guin Hainish Cycle

Source: Hainish Cycle, The Left Hand of Darkness (1969), Chapter 8 “Another Way into Orgoreyn” (p. 104)

Personality, Loyalty

“It's just not right that Donald Trump can ignore his debts, but students and families can't refinance theirs.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), 2016 Democratic National Convention (July 28, 2016)
Variant: It's just not right that Donald Trump can ignore his debts, but students and families can't refinance theirs.

Family

“They said it was the only way to stop her running up debts, but the best way to stop her running up debts was to give her more money.”

Edward St. Aubyn (1960) British writer

At Last, Chapter 7

Money, Way

“The acquisition of San Domingo is an adherence to the 'Monroe doctrine'; it is a measure of national protection; it is asserting our just claim to a controlling influence over the great commercial traffic soon to flow from west to east by way of the Isthmus of Darien; it is to build up our merchant marine; it is to furnish new markets for the products of our farms, shops, and manufactories; it is to make slavery insupportable in Cuba and Porto Rico at once, and ultimately so in Brazil; it is to settle the unhappy condition of Cuba and end an exterminating conflict; it is to provide honest means of paying our honest debts without overtaxing the people; it is to furnish our citizens with the necessaries of everyday life at cheaper rates than ever before; and it is, in fine, a rapid stride toward that greatness which the intelligence, industry, and enterprise of the citizens of the United States entitle this country to assume among nations.”

Ulysses S. Grant (1822–1885) 18th President of the United States

1870s, Second State of the Union Address (1870)

Life, People, Way, Intelligence

“A debt-ridden farmer contemplating suicide in Maharashtra and a mother who abandons her children in Karachi because she can't feed them: this is what we have achieved in our mutual desire to teach each other a lesson.”

Mohammed Hanif (1964) Pakistani journalist

Times of India http://timesofindia.indiatimes.com/Sunday_TOI/Ten_myths_about_Pakistan/articleshow/3932145.cms (4 January 2009)

Children, Suicide

“Europe in its infinite wisdom decided to deal with this bankruptcy by loading the largest loan in human history on the weakest of shoulders … What we’ve been having ever since is a kind of fiscal waterboarding that has turned this nation into a debt colony.”

Yanis Varoufakis (1961) Greek-Australian political economist and author, Greek finance minister

Source: Russell Hotten. " Yanis Varoufakis: In his own words http://www.bbc.co.uk/news/business-31111905" at bbc.co.uk, 3 February 2015; On the austerity terms of Greece's €240bn bailout

Wisdom, History

“The declared object of deflation was the restoration of the gold standard at pre-war parity. Its actual effect has been to create unemployment by the restriction of industrial credit. By the lever of unemployment it has forced down wages and has thus facilitated the return to gold through the reduction of prices. An incidental effect has been to transfer purchasing power from the workers, whose wages have been reduced, to the bondholders, whose interest has remained the same. It has also doubled the real burden of Debt since 1920, and was largely responsible for the mining lock-out last year, by the reduction in terms of sterling of the money which we receive for coal sold abroad. Deflation, in fact, has been responsible for a sinister catalogue of disasters which can be substantiated in detailed argument that has never yet been rebutted.”

Oswald Mosley (1896–1980) British politician; founder of the British Union of Fascists

New Leader (20 September 1927), quoted in Robert Skidelsky, Oswald Mosley (Papermacs, 1981), pp. 152-153.

Money, War

“It is a very tough agreement, with many thorns, and as for the question of who will implement it, that depends on who the Greek people trust to negotiate debt restructuring.”

Euclid Tsakalotos (1960) Greek economist and politician

" Fiery all-night debate in Greek parliament before bailout vote http://www.theguardian.com/world/video/2015/aug/14/greek-parliament-finance-minister-debate-bailout-vote-video" (14 August 2015)

People, Question, Dependency

“One sacrifice, however great, is insufficient to pay the debt of sin. The atonement requires constant self-immolation on the sinner’s part. That God’s wrath should be vented upon His beloved Son, is divinely unnatural. Such a theory is man-made. … The material blood of Jesus was no more efficacious to cleanse from sin when it was shed upon ‘the accursed tree,’ than when it was flowing in his veins as he went daily about his Father’s business. … His disciples believed Jesus to be dead while he was hidden in the sepulchre, whereas he was alive”

Mary Baker Eddy book Science and Health with Key to the Scriptures

.
Science and Health with Key to the Scriptures, pp. 23:3–6, 25:6–8, 44:28–29 (1867).

God, Business, Tree, Parting

“The economic success of the Reagan Administration was largely dependent upon the pyramiding of massive debt and the siphoning of capital from the rest of the world.”

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter Nine, transformation Of The Global Economy, p. 362

World, Success, Dependency

“One day Donald Trump discovers that he is owned, lock, stock, and roulette wheel, by Lutheran Brotherhood, and must renegotiate his debt load with a committee of silent Norwegians who don't understand why anyone would pay more than $120 for a suit.”

Garrison Keillor (1942) American radio host and writer

"Minnesota's Sensible Plan, TIME (11 September 1995)

Understanding

“There is no debt with so much prejudice put off as that of justice.”

Plutarch (46–127) ancient Greek historian and philosopher

Of those whom God is slow to punish
Bartlett's Familiar Quotations, 10th ed. (1919)

Justice

“Then the irony of the situation forced itself upon me. There around us lay treasures enough to pay off a moderate national debt, or to build a fleet of ironclads, and yet we would have bartered them all gladly for the faintest chance of escape. Soon, doubtless, we should be rejoiced to exchange them for a bit of food or a cup of water, and, after that, even for the privilege of a speedy close to our sufferings. Truly wealth, which men spend their lives in acquiring, is a valueless thing at the last.”

H. Rider Haggard book King Solomon's Mines

Source: King Solomon's Mines (1885), Chapter 18, "We Abandon Hope"

Men, Food, Suffering, Water

“I borrow to pay my honest debts and not to squander foolishly. What's more, I confine my borrowing to those who can well afford it. I don't go around sponging on widows and orphans unless they have plenty.”

Will Cuppy (1884–1949) American writer

[Scribner's Magazine, 1937, CII, 6, 19-21, I'm Not the Budget Type, Will Cuppy, http://www.unz.org/Pub/Scribners-1937dec-00019, PDF] Retrieved on June 25, 2012.

“They must first judge themselves, that presume to censure others: And such will not be apt to overshoot the Mark. We are too ready to retaliate, rather than forgive, or gain by Love and Information. And yet we could hurt no Man that we believe loves us. Let us then try what Love will do: For if Men did once see we Love them, we should soon find they would not harm us. Force may subdue, but Love gains: And he that forgives first, wins the Lawrel. If I am even with my Enemy, the Debt is paid; but if I forgive it, I oblige him for ever.”

William Penn (1644–1718) English real estate entrepreneur, philosopher, early Quaker and founder of the Province of Pennsylvania

542 - 547
Fruits of Solitude (1682), Part I

Love, Men, Forgiveness, Hurt

“We are broke, have an unconscionable amount in credit card debt already, and this Inaugural is killing us!”

Bob McDonnell (1954) American attorney and politician

Maureen McDonnell, quoted on Daily News, "Former Virgina Gov. Bob McDonnell and wife indicted on corruption charges" http://www.nydailynews.com/news/politics/va-gov-bob-mcdonnell-wife-indicted-corruption-article-1.1586861, January 21, 2014.

“Abu Hurayra reported that the Messenger of Allah, may Allah bless him and grant him peace, said, "If I had the whole of Uhud in gold, it would not make me happy for three days to pass while I have any of it except something I have kept for a debt."”

Muhammad (570–632) Arabian religious leader and the founder of Islam

Riyadh-as-Saliheen by Imam Al-Nawawi, volume 3, hadith number 466
Sunni Hadith

Happiness, Peace

“I was very sickly and weak during the first years of my infancy, and was, as much as I can remember of myself, a very whimsical boy. Sometimes I learned with enthusiasm, and often found myself in such a kind of ecstasy, that I neither could see nor hear what passed around me. In these fits of thought I forgot playthings and playfellows; I was happy only in my own musings. I always preferred the company of little girls to boys. I was not ten years old when I presented them with some poetry and little verses, the effusions of my heated imagination; some of them fell into my hands in riper years, and after reading them over, I left off poetry altogether. I loved my first private teacher very much; I even can remember him now. My second teacher was a simpleton; he could never understand me, nor enter into my feelings. My antipathy to this man grew daily greater; I could not learn of him, nor could he teach me anything. At last, when in my thirteenth year, I got rid of him, and he being encumbered with debts, I gave him my saving-box when he left. Whether I did this for pity's sake, or joy to get rid of him, I did not know.”

Albrecht Thaer (1752–1828) German agronomist and an avid supporter of the humus theory for plant nutrition

My Life and Confessions, for Philippine, 1786

Love, Happiness, Feeling, Imagination

“You must attend to this matter. While being completely law-abiding, some people are imprisoned, treated harshly and even killed without cause so that many people suffer. Therefore your aim should be to act with impartiality. It is because of these things — envy, anger, cruelty, hate, indifference, laziness or tiredness — that such a thing does not happen. Therefore your aim should be: "May these things not be in me." And the root of this is non-anger and patience. Those who are bored with the administration of justice will not be promoted; (those who are not) will move upwards and be promoted. Whoever among you understands this should say to his colleagues: "See that you do your duty properly. Such and such are Beloved-of-the-Gods' instructions." Great fruit will result from doing your duty, while failing in it will result in gaining neither heaven nor the king's pleasure. Failure in duty on your part will not please me. But done properly, it will win you heaven and you will be discharging your debts to me.”

Ashoka (-304–-232 BC) Indian emperor of the Maurya Dynasty

Edicts of Ashoka (c. 257 BC)

God, Hate, People, Pleasure

“I OWE Christianity a debt, and so, I believe, does the world we have lived in for the last 2000 years.”

Melvyn Bragg (1939) British broadcaster and author

World

“Their efforts and their sacrifices for education are immeasurable. They started their schools for their own children. Over the years, increasing numbers of Fijian and other students were taken in. Today, in a majority of their schools Fijian children predominate. There is a large debt of gratitude owed here that I am pleased to acknowledge.”

Laisenia Qarase (1941) Prime Minister of Fiji

(Paying tribute to Indian and Chinese schools in Fiji).
Opening address to the Education Summit, Suva, 31 August 2005

Children, Education, School, Effort

“We’re going to refinance everyone’s existing student debt, 40 million Americans have student debt. … Under my plan, you will be able to also lower your debt, move into a program to pay it back as a percentage of your income and more than that, my plan for debt-free tuition at public colleges and universities will eventually eliminate any student debt. But for people who have it, I’m going to put a date certain that after a certain number of years, you no longer have to pay anything. The government has to quit making money off of lending money to young people to get their education.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), Democratic Presidential Debate in Miami (March 9, 2016)

Money, People, Education, Universe

“I would suggest to my honourable Friend that the foreign investor is at least as discouraged by high national debt for that, as all example shows, is the surest precursor of high taxation.”

John James Cowperthwaite (1915–2006) British colonial administrator

March 24, 1966, page 213.
Official Report of Proceedings of the Hong Kong Legislative Council

“The whitewashed wall, the nicely sanded floor,
The varnished clock that clicked behind the door;
The chest contrived a double debt to pay,
A bed by night, a chest of drawers by day.”

Oliver Goldsmith The Deserted Village

Source: The Deserted Village (1770), Line 227.

Night

“The more debt we owe, the wealthier we are.”

Pete Stark (1931–2020) American politician

From the interview which he gave to Jan Helfeld . http://www.youtube.com/watch?v=UjbPZAMked0&feature=player_embedded

“Blessed are the young, for they shall inherit the national debt.”

Herbert Hoover (1874–1964) 31st President of the United States of America

Address to the Nebraska Republican Conference, Lincoln, Nebraska (16 January 1936)

Good Morning

“The question therefore now comes forward, To what other objects shall these surpluses be appropriated, and the whole surplus of impost, after the entire discharge of the public debt, and during those intervals when the purposes of war shall not call for them? Shall we suppress the impost and give that advantage to foreign over domestic manufactures? On a few articles of more general and necessary use the suppression in due season will doubtless be right, but the great mass of the articles on which impost is paid are foreign luxuries, purchased by those only who are rich enough to afford themselves the use of them.
Their patriotism would certainly prefer its continuance and application to the great purposes of the public education, roads, rivers, canals, and such other objects of public improvement as it may be thought proper to add to the constitutional enumeration of Federal powers. By these operations new channels of communications will be opened between the States, the lines of separation will disappear, their interests will be identified, and their union cemented by new and indissoluble ties. Education is here placed among the articles of public care, not that it would be proposed to take its ordinary branches out of the hands of private enterprise, which manages so much better all the concerns to which it is equal, but a public institution can alone supply those sciences which though rarely called for are yet necessary to complete the circle, all the parts of which contribute to the improvement of the country and some of them to its preservation.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

Thomas Jefferson's Sixth State of the Union Address (2 December 1806). Advising the origination of an annual fund to be spent through new constitutional powers (by new amendments) from projected surplus revenue.
1800s, Second Presidential Administration (1805-1809)

War, Education, Communication, Question

“In addition to relative indifference to the fate of the euro area, Britain is more protected because of speculation the central bank may intervene directly to finance the debt … Europe is not a cash box, let alone a cashpoint.”

François Hollande (1954) 24th President of the French Republic

As quoted in "New French leader fires a broadside at Britain: You only care about the City of London, says President Hollande" http://www.dailymail.co.uk/news/article-2141040/Francois-Hollande-French-president-says-Britain-cares-City.html (8 May 2012), Daily Mail.

Fate, Indifference, Box

“It spurs me on. I'm going to get over that, I'm a good songwriter, my kids are happy, the band is great and I've almost sorted out all my debts. At least I've never sold my story. I've had countless offers but I'd rather be in a bedsit council flat than splashed all over Hello! or the tabloids. I really would, I have a responsibility to my band and my children as well. I don't believe in it, I'm never ever tempted.”

Lisa Moorish (1972) British singer

Source: " A life on the edge http://www.theguardian.com/music/2004/aug/20/popandrock8" at The Guardian, 20 August 2004 : On conquering her past.

Happiness, Children

“The battle of the Falklands was a remarkable military operation, boldly planned, bravely executed, and brilliantly accomplished. We owe an enormous debt to the British forces and to the Merchant Marine. We honour them all. They have been supported by a people united in defence of our way of life and of our sovereign territory.”

Margaret Thatcher (1925–2013) British stateswoman and politician

Speech in the House of Commons (15 June 1982) http://www.margaretthatcher.org/document/104969 First term as Prime Minister

Life, People, Way, Support

“Dialogue in Hell:
limitation to the increase of taxes. So they conceived a scheme truly admirable for its simplicity…. A special fund was created, the capitalized resources of which are meant to be a permanent redemption of the public debt by successive fractions; so that every time the state borrows, it must endow the sinking fund with a certain capital for the purpose of liquidating the new debt at a given time….
Our system of accounting, fruit of long experience, is distinguished by the clarity and the certitude of its procedures. It obstructs abuses and gives to no one, from the smallest official to the chief of state himself, the means of diverting the least sum from its original purpose, or of making irregular use of it.”

Will Eisner (1917–2005) American cartoonist

The Plot: The Secret Story of the Protocols of the Elders of Zion (10/2/2005)

Hell, Time, Success

“Basically, Herman van Rompuy wants the European Union to become a debt union, which may be acceptable to some of the southern countries who are effectively bust. To the northern countries, it is not.”

Nigel Farage (1964) British politician and former commodity broker

Segment from an article on the UKIP website, 29 June 2012. Welcome to the D€bt Union http://www.ukip.org/content/latest-news/2703-welcome-to-the-deurobt-union 2012

Country

“Generations of Americans will pay the Republican campaign debt to the energy industry with global instability, depleted national coffers and increased vulnerability to price shocks in the oil market. They will also pay with reduced prosperity and quality of life at home. Pollution from power plants and traffic smog will continue to skyrocket. Carbon-dioxide emissions will aggravate global warming. Acid rain from Midwestern coal plants has already sterilized half the lakes in the Adirondacks and destroyed the forest cover in the high peaks of the Appalachian range up into Canada. The administration's attacks on science and the law have put something even greater at risk. Americans need to recognize that we are facing not just a threat to our environment but to our values, and to our democracy.”

Robert Francis Kennedy, Jr. (1954) American activist

In "Crimes against nature" in Rolling Stone magazine (11 December 2003).

Life, Law, Democracy, Home

“This is the day on which the American people each year acknowledged that they have such a debt. It has been set aside that a grateful Nation may do fitting honor to the memory of those who have made the greatest and most voluntary contribution to it. Here about us, in this place of beauty and reverence, lies the mortal dust of a noble host, to whom we have come to pay our tribute, as thousands of other like gatherings will do throughout our land. In their youth and strength, their love and loyalty, those who rest here gave to their country all that mortality can give. For what they sacrificed we must give back the pledge of faith to all that they held dear, constantly renewed, constantly justified. Doing less would betray them and dishonor us.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, The Reign of Law (1925)

Love, People, Youth, Faith

“Our sins are debts that none can pay but Christ. It is not our tears, but His blood; it is not our sighs, but His sufferings, that can testify for our sins. Christ must pay all, or we are prisoners forever.”

Thomas Brooks (1608–1680) English Puritan

Source: Quotes from secondary sources, Dictionary of Burning Words of Brilliant Writers, 1895, P. 81.

Tear, Suffering, Christ

“[El Greco 'confined to his bed'].. holding, believing and confessing the Faith of the Holy Church of Rome.... in whose Faith I have lived and die, as a faithful and Catholic Christian.... because of the gravity of my sickness I was unable to make a will and gives power to Jorge Manuel Teotocopuli my son, and of Doña Jerónima de las Cuevas [his wife he never married], who is a person of honesty and virtue [to make his testament, arrange his burial, and pay his debts, and the] remainder of my possessions to go to Jorge Manuel, as universal heir..”

El Greco (1541–1614) Greek painter, sculptor and architect

Quote of El Greco, 31 March 1614; as cited in Outline Biography of El Greco - documented facts of his life https://www.wga.hu/tours/spain/greco1.html

Faith, Universe, Personality

“Small debts are like small shot; they are rattling on every side, and can scarcely be escaped without a wound; great debts are like cannon, of loud noise but little danger.”

Samuel Johnson (1709–1784) English writer

Letter http://books.google.com/books?id=yEA_AQAAMAAJ&q=%22small+debts+are+like+small+shot+they+are+rattling+on+every+side+and+can+scarcely+be+escaped+without+a+wound+great+debts+are+like+cannon+of+loud+noise+but+little+danger%22&pg=PA189#v=onepage to Joseph Simpson, circa 1759 Life of Samuel Johnson (1791), Vol I

“[To] me naturalization is just an obvious extension of what somebody in my position would desire anyway — the right to vote and to legally participate in society the same as any other citizen. I am already as entrenched as any other citizen: I have a house and land with a debt of a quarter-million dollars; with a thirty-year loan I really cannot leave Japan… Moreover, naturalization has knock-on benefits that suit a person with my personality. It will enable me to stand on my rights (yes, more than I do now!) with renewed vigor — because I will indeed have more rights, as well as a firmer ground to demand even more (I can except myself from, say, this 'as a foreigner, you are a guest in our country so shut up' bullshit). And — dare I say it?”

Debito Arudou (1965) Author/activist with Japanese citizenship born in the USA

I would be able to participate in politics as a candidate if I so choose). Debito Arudou, " A Bit More Personal Background on Arudou Debito/Dave Aldwinckle http://www.debito.org/morebackground.html," Debito.Org

Nature, Housing, Personality, Country

“Corrupt influence, which is itself the perennial spring of all prodigality, and of all disorder; which loads us, more than millions of debt; which takes away vigor from our arms, wisdom from our councils, and every shadow of authority and credit from the most venerable parts of our constitution.”

Edmund Burke (1729–1797) Anglo-Irish statesman

Speech on the Independence of Parliament (1780)

Wisdom, Spring, Parting

“If it wasn't about race, y'know, if it was really about what the Tea Party says their issue is – deficits – who ran up all that debt? Bush! Where was the Tea Party then? The two wars we put on the credit card, the prescription drug program that wasn't paid for, the tax cuts that weren't paid for, where were they then? *crickets!* But as soon as President Nosferatu took office, then, suddenly, debt is intolerable. I think there's just something they don't like about him… I cannot put my finger on what it is… Just some way he's not like them… Skinny! That's probably what it is. He's skinny, and that's why they hate him… Oh, and also that he's a Muslim socialist out to destroy America and wave his African wonder-schlong in your daughter's face.”

Bill Maher (1956) American stand-up comedian

Crazy Stupid Politics (2012)

Hate, War, Way, Thinking

“Trump is that he is a crony capitalist, who now states that he supported the Clintons and other liberals with donations for so long because he wanted to obtain influence with them while they were in power. He has led several businesses to bankruptcy. He has called himself the "king of debt," a description that Johnson or Paul and other leading libertarians would never use to describe themselves.”

Brent Budowsky (1952) American journalist

In shock poll, Libertarian Johnson beats Trump among economists (August 23, 2016)

Business, Support

“You don't pay back your parents. You can't. The debt you owe them gets collected by your children, who hand it down in turn.”

Lois McMaster Bujold Vorkosigan Saga

Vorkosigan Saga, A Civil Campaign (1999)
Context: You don't pay back your parents. You can't. The debt you owe them gets collected by your children, who hand it down in turn. It's a sort of entailment. Or if you don't have children of the body, it's left as a debt to your common humanity. Or to your God, if you possess or are possessed by one.

Children, Parent

“Now is the time to throw off the yoke, to force renegotiation of oppressive foreign debts”

Ernesto Che Guevara (1928–1967) Argentine Marxist revolutionary

Afro-Asian Conference (1965)
Context: Now is the time to throw off the yoke, to force renegotiation of oppressive foreign debts, and to force the imperialists to abandon their bases of aggression.

Time

“I am to do justice, and demand that of all, — a universal human debt, a universal human claim.”

Theodore Parker (1810–1860) abolitionist

Ten Sermons of Religion (1853), III : Of Justice and the Conscience https://en.wikisource.org/wiki/Ten_Sermons_of_Religion/Of_Justice_and_the_Conscience Context: Justice is moral temperance in the world of men. It keeps just relations between men; one man, however little, must not be sacrificed to another, however great, to a majority, or to all men. It holds the balance betwixt nation and nation, for a nation is but a larger man; betwixt a man and his family, tribe, nation, race; between mankind and God. It is the universal regulator which coordinates man with man, each with all, — me with the ten hundred millions of men, so that my absolute rights and theirs do not interfere, nor our ultimate interests ever clash, nor my eternal welfare prove antagonistic to the blessedness of all or any one. I am to do justice, and demand that of all, — a universal human debt, a universal human claim.

Justice, Universe

“We cannot overstate our debt to the Past, but the moment has the supreme claim.”

Ralph Waldo Emerson (1803–1882) American philosopher, essayist, and poet

1870s, Society and Solitude (1870), Quotation and Originality
Context: We cannot overstate our debt to the Past, but the moment has the supreme claim. The Past is for us; but the sole terms on which it can become ours are its subordination to the Present. Only an inventor knows how to borrow, and every man is or should be an inventor. We must not tamper with the organic motion of the soul.

Past

“I don't think top-down works in America. I think building the middle class, investing in the middle class, making college debt-free so more young people can get their education, helping people refinance their debt from college at a lower rate. Those are the kinds of things that will really boost the economy. Broad-based, inclusive growth is what we need in America, not more advantages for people at the very top.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), First presidential debate (September 26, 2016)
Context: We've looked at your [Trump's] tax proposals. I don't see changes in the corporate tax rates or the kinds of proposals you're referring to that would cause the repatriation, bringing back of money that's stranded overseas. I happen to support that. I happen to support that in a way that will actually work to our benefit. But when I look at what you have proposed, you have what is called now the Trump loophole, because it would so advantage you and the business you do.... Trumped-up trickle-down. Trickle-down did not work. It got us into the mess we were in, in 2008 and 2009. Slashing taxes on the wealthy hasn't worked. And a lot of really smart, wealthy people know that. And they are saying, hey, we need to do more to make the contributions we should be making to rebuild the middle class. I don't think top-down works in America. I think building the middle class, investing in the middle class, making college debt-free so more young people can get their education, helping people refinance their debt from college at a lower rate. Those are the kinds of things that will really boost the economy. Broad-based, inclusive growth is what we need in America, not more advantages for people at the very top.

People, Education, Thinking, Help

“The other miracle is that before his arrival the whole of Hindustan was submerged by unbelief and idol-worship. Every haughty man in Hind pronounced himself to be Almighty God and considered himself as the partner of God. All the people of India used to prostrate themselves before stones, idols, trees, animals, cows and cow-dung. Because of the darkness of unbelief over this land their hearts were locked and hardened.
“All India was ignorant of orders of religion and law. All were ignorant of Allah and His Prophet. None had seen the Ka‘ba. None had heard of the Greatness of Allah.
“Because of his coming, the, Sun of real believers, the helper of religion, Mu‘in al-din, the darkness of unbelief in this land was illumined by the light of Islam.
“Because of his Sword, instead of idols and temples in the land of unbelief now there are mosques, mihrab and mimbar. In the land where there were the sayings of the idol-worshippers, there is the sound of ‘Allahu Akbar’.
“The descendants of those who were converted to Islam in this land will live until the Day of Judgement; so too will those who bring others into the fold of Islam by the sword of Islam. Until the Day of Judgement these converts will be in the debt of Shaykh al-Islam Mu‘in al-din Hasan Sijza and these people will be drawing closer to Almighty Allah because of the auspicious devotion of Mu‘in al-din.”

Moinuddin Chishti (1142–1236) Sufi saint

About Shykh Mu‘in al-Din Chisti of Ajmer (Rajasthan) (d. AD 1236). Amir Khwurd: Siyaru’l-Auliya. Cited in P.M. Currie, The Shrine and Cult of Mu‘in al-Din Chishti of Ajmer, OUP, 1989, p. 30.

God, People, Religion, Law

“All national currencies are deep in debt-- indebted to nature-- because human economies extract from nature faster than we replenish.”

Paul Glover (1947) Community organizer in Philadelphia, Pennsylvania; American politician

http://www.paulglover.org/0711.html (The Ithacan, “The Destiny of Dollars”), 2007-11-01

Nature

“Funding I consider as limited, rightfully, to a redemption of the debt within the lives of a majority of the generation contracting it”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

Letter to John Taylor (28 May 1816) ME 15:18: The Writings of Thomas Jefferson "Memorial Edition" (20 Vols., 1903-04) edited by Andrew A. Lipscomb and Albert Ellery Bergh, Vol. 15, p. 18
1810s
Context: The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our Constitutions, which, if not covered, will end in their destruction, which is already hit by the gamblers in corruption, and is sweeping away in its progress the fortunes and morals of our citizens. Funding I consider as limited, rightfully, to a redemption of the debt within the lives of a majority of the generation contracting it; every generation coming equally, by the laws of the Creator of the world, to the free possession of the earth he made for their subsistence, unincumbered by their predecessors, who, like them, were but tenants for life.

“Everyone knows there are billions and billions of stars, and national debts conjure up similar astronomical numbers. Yet we have found a way to hide the zeros: 109 doesn't look as bad as 1,000,000,000.”

John D. Barrow (1952–2020) British scientist

Source: The Book of Nothing (2009), chapter nought "Nothingology—Flying to Nowhere"

Way, Star

“You convey too great a compliment when you say that I have earned the right to the presidential nomination. No man can establish such an obligation upon any part of the American people. My country owes me no debt. It gave me, as it gives every boy and girl, a chance. It gave me schooling, independence of action, opportunity for service and honor.”

Herbert Hoover (1874–1964) 31st President of the United States of America

Letter to Senator George H. Moses, chairman of the Republican national convention, upon learning of his nomination for president (14 June 1928); reported in The Memoirs of Herbert Hoover (1952), volume 2, p. 195.
Context: You convey too great a compliment when you say that I have earned the right to the presidential nomination. No man can establish such an obligation upon any part of the American people. My country owes me no debt. It gave me, as it gives every boy and girl, a chance. It gave me schooling, independence of action, opportunity for service and honor. In no other land could a boy from a country village, without inheritance or influential friends, look forward with unbounded hope. My whole life has taught me what America means. I am indebted to my country beyond any human power to repay.

People, School, Girl, Boy

“To pay off the debt was to destroy the money supply.”

John Kenneth Galbraith (1908–2006) American economist and diplomat

Source: Money: Whence It Came, Where It Went (1975), Chapter VIII, The Great Compromise, p. 90
Context: In numerous years following the war the Federal government ran a heavy surplus. It could not pay off it's debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.

Money

Quotes about debt page 4

Quotes about debt
page 4