Solving a problem created by debt... by creating more debt is a fool's errand.
Sentiment: NEGATIVE
It takes as much imagination to create debt as to create income.
As we have seen both in healthcare and energy, passing reckless, ill-conceived massive bills usually create more problems than we solve.
The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.
We have to honor our commitments to today's beneficiaries, but we can't solve the growing deficit and debt problems unless we are smart, courageous, and sensible in planning for future.
In this business, if you don't pay your debts you're finished.
Debt is one person's liability, but another person's asset.
Some people use one half their ingenuity to get into debt, and the other half to avoid paying it.
Debt is a mistake between lender and borrower, and both should suffer.
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.
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.