All of the problems we're facing with debt are manmade problems. We created them. It's called fantasy economics. Fantasy economics only works in a fantasy world. It doesn't work in reality.
Sentiment: NEGATIVE
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.
It takes as much imagination to create debt as to create income.
It's time to start thinking differently about money and debt and start the healing process - and the process toward wealth and freedom. 'Freedom from Bad Debt' can get you started.
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.
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.
All but a very few of us are in debt. We exist as entities who borrow money and spend the rest of our lives making interest payments on a debt tally that never seems to budge. Whatever wealth we have, in labor, property or cash, is suctioned to the top.
Let every man, every corporation, and especially let every village, town, and city, every county and State, get out of debt and keep out of debt. It is the debtor that is ruined by hard times.
We still have a major problem in debt with America that we have to find efficiencies in government to get us back to a balanced budget.
Debt is part of the human condition. Civilization is based on exchanges - on gifts, trades, loans - and the revenges and insults that come when they are not paid back.
The human world is a long way from meeting the needs of the present, and it is borrowing massively from the future - not only by piling up money debt, but also by degrading the resources from which all real wealth ultimately comes.