So we make this big loan, most of it comes back to the United States, the country is left with the debt plus lots of interest, and they basically become our servants, our slaves. It’s an empire. There’s no two ways about it. It’s a huge empire. It’s been extremely successful.
What we are effectively doing, I say this to the young people of America whom my colleagues represent, is leaving our children and grandchildren the tab for fighting a war, letting them pay for the lion’s share of it by simply adding it to the national debt.
We can have tax cuts, but when we have tax cuts and do not have a surplus, the amount of the tax cut goes straight to the bottom line, adds to the deficit, and the deficit adds to the national debt, and sooner or later, the debt has to be paid.
What our Republican friends are doing, if we look at what they do and not what they say, they have decided that the most important thing in this country is to increase payments for interest on the national debt.
A Christian people who have for two hundred years kept a race in bondage, deprived of the advantages of civilization and religion, owe them a debt of gratitude which it would seem ungenerous to withhold.
Government spending is being restrained, the economy is making progress and moving forward, and the pro-growth, tax cutting policies put in place have allowed businesses to grow, which has brought in additional tax revenue to help pay off the debt.
I refer, of course, to the debts our nation has amassed for itself over decades of indulgence. It is the new Red Menace, this time consisting of ink. We can debate its origins endlessly and search for villains on ideological grounds, but the reality is pure arithmetic.
The federal government now spends one of every four dollars in the entire economy. It borrows one of every three dollars it spends. No nation, no entity, large or small, public or private, can thrive, or survive intact, with debts as huge as ours.
These subsidies from four European governments, which include aircraft launch assistance, capital injections, debt forgiveness, have enabled Airbus to develop and range market airliners well below cost.
No pecuniary consideration is more urgent, than the regular redemption and discharge of the public debt: on none can delay be more injurious, or an economy of time more valuable.~Message to the House of Representatives, 3 December 1793
This election presents a stark choice – we can continue down the road of the Obama Democrats, more and more spending, debt and government control of the economy, or we can return to the founding principles of our nation – free markets, fiscal responsibility and individual liberty.
The Nobel Prize, so long regarded in our science as the highest reward a man’s work can earn, must bring to its recipient a most solemn sense of his debt to his fellow scientists and those of the past.