On the national debt.
”There does not exist an engine so corruptive of the government and so demoralizing of the nation as a public debt. It will bring on us more ruin at home than all the enemies from abroad …” ~ Thomas Jefferson
“I’ve always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed. But that only became terribly relevant in 2008. What made sense in 1985, which was to say, “the Fed just stabilized the economy and the government should try to run good bookkeeping” does not make sense in the world we’re in right now because this is a once-in-three-generations crisis which has pushed us into a situation where somebody has to spend to support the economy and that somebody pretty much has to be the government.” ~ Paul Krugman
“U.S. debt is, to a large extent, money we owe to ourselves.” ~ Communist, Paul Krugman
“I consider the fortunes of our republic as depending in an eminent degree on the extinguishment of the public debt before we engage in any war; because that done, we shall have revenue enough to improve our country in peace and defend it in war without recurring either to new taxes or loans. But if the debt should once more be swelled to a formidable size, its entire discharge will be despaired of, and we shall be committed to the English career of debt, corruption and rottenness, closing with revolution. The discharge of public debt, therefore, is vital to the destinies of our government.” ~ Thomas Jefferson