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The problem is that the U.S. government is the biggest debtor in the world, and those depending on it to take care of them will only become poorer.

I don't mind the government accruing debts as long as every dollar is spent effectively with a high return. That works out fine. If you accumulate debts and waste your money, that's, of course, a disaster.

You cannot tackle Britain's debts without tackling the unreformed welfare system.

Governments can inflate their way out of debt, but that has consequences, doesn't it?

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.

No country can be complacent in making sure that excessive debt of the household doesn't create excesses and weaknesses in the financial system. Everything is interconnected.

You might say those who can't repay their student debts shouldn't have borrowed in the first place. But they had no way of knowing just how bad the jobs market would become.

It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.

Repaying the debt of these ultimate sacrifices seems nearly impossible but we must try.

You know, we've got to be responsible about our debt. We don't want the United States to ever be a dead beat, and not be able to pay its bills, either to our soldiers who are fighting or to Social Security recipients.