Folks, I don't want my president to leave office with a $10 trillion deficit. I don't want China to own more of our country through our debt.

Debt is simply selling a future to buy a present.

The budget should be balanced, the treasury should be refilled, public debt should be reduced, the arrogance of officialdom should betempered and controlled, and the assistance to foreign lands shouldbe curtailed lest Rome become bankrupt. 55 B.C.

Bad debt is debt that is used to enhance consumption.

You cannot spend your way out of a recession or borrow your way out of debt... You know and we know and you know that we know that it's nonsense... The European Commission has said so. The markets say so, ... In a few months, the voters will have their chance to say so, too. They can see what the markets have seen: that you are the devalued Prime Minister of a devalued Government"

Mr. President, that whimsical English professor, Dr. Parkinson, should formulate another Parkinson's law relating to the public debt since it so closely parallels his law on bureaucratic growth. Just as spending will always reach and overtake revenues so the public debt will constantly pierce the ceiling and finally go into orbit.