If a communitypledges some of its children’s future incomeas collateral for long-term debtis every $1 of additional new borrowingan indirect tax increase?

Debts are fun when you are acquiring them

but none are fun when you set about retiring them

 

Ogden Nash

 

Debt is the fatal disease of republics

the first thing and the mightiest to undermine governments

and corrupt the people

 

Wendell Phillips

 

I place economy among the first and most important virtues

and public debt as the greatest of dangers to be feared

 

…we must not let our rulers load us with perpetual debt

 

Thomas Jefferson