Bush Started with National Debt at $5 Trillion, Now $10

"When George Bush came into office, we had surpluses. And now we have half-a-trillion-dollar deficit annually. When George Bush came into office, our national debt was around $5 trillion. It’s now over $10 trillion. We’ve almost doubled it." -- Barack Obama

Deficit Levels Over a Trillion Dollars are Unsustainable

"What we also have to recognize is that the deficit levels that I'm inheriting, over a trillion dollars, coming out of last year, that that is unsustainable. At a certain point, other countries stop buying our debt, at a certain point, we'd end up having to raise interest rates, and it would end up creating more economic chaos and potentially inflation." -- Barack Obama

Depend Less on Debt & Save More: Mariner Kemper

"Our industry should focus on educating Americans to depend less on debt and to save more. It's a sad state to know that for every dollar of economic output, $1.01 is paying off debt." -- Mariner Kemper Chairman and CEO of UMB Financial, from Wall Street Journal 2009 Resolution for Financial Industry

Small Debts Make More Noise Than Large Debt

"Small debts are like small gun shot; they are rattling around us on all sides and one can scarcely escape being wounded. Large debts are like canons, they produce a loud noise, but are of little danger" -- Samuel Johnson

Debt is Not Inconvenience, but Calamity

"Do not accustom yourself to consider debt only as an inconvenience. You will find it a calamity" -- Samuel Johnson

Words pay no debts: William Shakespeare

"Words pay no debts" -- William Shakespeare

Lying Rides Upon Debt's Back: Benjamin Franklin

"Lying rides upon debt's back" -- Benjamin Franklin

Reduce Debt by Getting a Raise or Reducing Spending

"There are but two ways of paying debt: Increase of industry in raising income, increase of thrift in laying out" -- Thomas Carlyle

Solvency an Illusion by Creditor Upon Debtor

"Solvency is maintained by means of a national debt, on the principle, ''If you will not lend me the money, how can I pay you?" -- Ralph Waldo Emerson

Go Hungry Before Borrowing Money: Franklin

"Rather go to bed with out dinner than to rise in debt." -- Benjamin Franklin

Debt a Rude Bedfellow Always Pulling Covers

"Debt is the sort of Bedfellow who is forever pulling all the covers his way." -- Minna Thomas Antrim

Public Money Scarce Since Cicero

"The budget should be balanced, the treasury should be refilled and the public debt should be reduced. The arrogance of public officialdom should be tempered and controlled. And the assistance to foreign lands should be curtailed, lest we become bankrupt." -- Cicero, 63 B.C.