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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.

Borrowing and spending is not the way to prosperity.

Remember this: debt is a form of bondage. It is a financial termite.

It takes as much imagination to create debt as to create income.

We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis.

Debt is a drag, a reality you may experience with every credit-card bill you open. But for a corporation or a government, it can be even more of a drag - on economic growth and job creation.

The national debt is totally unlike a family budget for about a gazillion reasons, not the least of which being that families cannot raise money by fiat or deflate the size of their debt unilaterally and that family members die instead of existing infinitely.

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.

To suggest that we can't pay our debts - that's absolutely not true.

There is scarcely anything that drags a person down like debt.