Quote

I think what's important to understand is if the United States hits the debt ceiling and is unable to pay its debts, the consequences will be immediate and dramatic.

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

In a world awash in debt, power shifts to creditors.

We have determined as a society, as a country, as a people, that the incarceration and the supervision and the specific fines for a particular crime are that person's debt to society.

I fully believe that the U.S. has the obligation to honor its debt.

Debt is one person's liability, but another person's asset.

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

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.

The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.