The fact that we are here today to debate raising America's debt limit is a sign of leadership failure... It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies.— Barack Obama
Most Powerful Debt Limit quotations
The only limits you have are the limits you believe.
Now we are raising the debt limit 3 times, up to $8 trillion, so that our children and our grandchildren will have to pay for the cost of our expenditures.
I can scarcely contemplate a greater calamity that could befall this country, than be loaded with a debt exceeding their ability ever to discharge. If this be a just remark, it is unwise and improvident to vest in the general government a power to borrow at discretion, without any limitation or restriction.
Givers have to set limits because takers rarely do.
We must not let our rulers load us with perpetual debt.
The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. America has a debt problem and a failure of leadership. Americans deserve better. I, therefore, intend to oppose the effort to increase America's debt.
Allow a government to decline paying its debts and you overthrow all public morality-you unhinge all the principles that preserve the limits of free constitutions. Nothing can more affect national prosperity than a constant and systematic attention to extinguish the present debt and to avoid as much as possibly the incurring of any new debt.
There will be obstacles. There will be doubters. There will be mistakes. But with hard work, there are no limits.
I think that both parties should declare the debt limit as a political weapon of mass destruction which can't be used. I mean, it is silly to have a country that has 237 years building up its reputation and then have people threaten to tear it down because they're not getting some other matter.
I am prepared to discuss the things that I believe we need to do not just to raise the debt limit. Raising the debt limit is the easiest thing. That's one vote away. The hard thing is to show the world we are serious about putting our spending in order so we can show people we'll able to pay our bills down the road.
Armies, and debts, and taxes are the known instruments for bringing the many under the domination of the few.
Never tell me the sky is the limit when there are footprints on the moon.
I would vote to increase the debt limit if there was a corresponding level of cuts. And if there was some serious talk about a balanced budget amendment, which we as governors always had to deal with.
The debt limits have to come down. The whole world of debt has to be changed as far as this country is concerned. We have to create jobs and we have to create them rapidly because if we don't things are just going to head in a direction that's going to be almost impossible to recover from.
The fact that previous generations have handed down to us a substantial public heritage by way of roads, port, etc. almost completely free of debt, seems to me to impose some limitation on the validity of the theory that by borrowing we should, or could, pass on the burden of development to the next generation.
The only limitations one has are the ones they place on themselves.
Households and businesses cut expenses every day.
Passing a financial down payment alongside the debt limit sends the right message to the public, and gives members of Congress greater comfort, or cover, depending on your perspective.
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.
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.
Don't limit yourself to the skies when there is a whole galaxy out there.
At a time when the GOP is playing games with the debt limit, a member of the Supreme Court is refusing to recuse himself from matters he has a financial interest in, and middle class incomes are stagnant, many want to change the subject. I don't. This was a prank, and a silly one. I'm focused on my work.
The idea for Anthem the play began over twenty years ago.
I was assisting in the production of another Ayn Rand work, Ideal. I moved to New York and began working on producing the play with my partners. And as a way to raise money to cover some venture debt, we decided to stage Anthem for a limited run at the Lex Theatre in Hollywood.
I would be very, very strong on the debt limit.
And I would be asking for a very big pound of flesh if I were the Republicans. And the problem with the Republicans, they have two sides. The smaller side is very strong and the other side is always agreeing and, you know, you can't do that.
The definition of success is when you are free to do what you love, without any limitations.
I would use the debt limit. I don't want to say - I want to be unpredictable, because, you know, we need unpredictability. Everything is so predictable with our country.
I think people are confused about what the Tea Party is.
I mean, they were a broad cross-section of Americans who came together concerned about our debt and our spending. And they're interested in constitutional, limited government. And so they're not one group of people. They're thousands of small groups all over the country.
Establish that a Government may decline a provision for its debts, though able to make it, and you overthrow all public morality, you unhinge all the principles that must preserve the limits of free constitutions.
We must not allow others' limited perceptions to define us.
It will be a great day when taxpayers keep the money they earned and DC has to hold a bake sale to to raise the debt limit.
When Obama's economic advisers - a greater group of schlemiels would be hard to find - warn that failure to raise the limit will trigger default and horrific consequences for the global economy, Republicans should reply that if this is so, tell it to your president and get him to approve the spending cuts along with the debt-limit increase.
Limited government, low taxes, controlled spending and debt, and a restrained regulatory environment make Texas work.
Dream higher than the sky and deeper than the ocean.
When you talk about raising that debt limit, the only way that I would ever support raising the debt limit if we also talk about budgetary controls on the federal government, capping its spending, how do we deal with the Social Security, Medicare and Medicaid problems, because they cannot continue to run on auto-pilot.
Charity is an eternal debt and without limit.
The American people reject the idea of giving Washington a blank check to increase the debt limit.
If you put limits on everything you do, physical or anything else, it will spread into your work and life. There are no limits. There are only plateaus and you must go beyond them.
I use my financial values to set my limitations.
I have three children I want to put through college debt free. So that means I can't spend wildly or with disregard.
DEBT, n. An ingenious substitute for the chain and whip of the slave-driver. As, pent in an aquarium, the troutlet Swims round and round his tank to find an outlet, Pressing his nose against the glass that holds him, Nor ever sees the prison that enfolds him; So the poor debtor, seeing naught around him, Yet feels the narrow limits that impound him, Grieves at his debt and studies to evade it, And finds at last he might as well have paid it.
Historically, the minority party in Congress votes against raising the debt limit, forcing the majority party to whip its members into casting politically painful votes in favor.
It is hard to give unlimited power to limited minds.
Raising the debt limit on some levels is a ministerial act. It doesn't involve any new spending.
Historically, the responsibility for voting on the debt limit has gone to the party in the majority.
In time of peace there can, at all events, be no justification for the creation of a permanent debt by the Federal Government. Its limited range of constitutional duties may certainly under such circumstances be performed without such a resort.
The American people will not tolerate a clean increase in the debt limit.