Borrowing Quotes - Page 10

• Deficit financing proper is rather the process whereby a Government spends more money that it withdraws from the economy by taxation, borrowing, running down reserves, etc.; thereby causing in most circumstances, and very acutely in ours, monetary inflation and severe pressure on the balance of payments.

  John James Cowperthwaite

  Running, Government, Balance

  Official Report of Proceedings of the Hong Kong Legislative Council (p. 249), March 29, 1967.

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• For decades, we have piled deficit upon deficit, mortgaging our future and our children's future for the temporary convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals. You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we are not bound by that same limitation?

  Ronald Reagan

  Children, Mean, Thinking

  First Inaugural Address, delivered 20 January 1981

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