national debt Archives - Richard M. Langworth

Squandermania: Churchill on Debt Limits

15 September 2023 Comments 1 Comment

"The detailed methods of [Squandermania] have not yet been fully thought out, but we are assured on the highest authority that if only enough resource and energy are used there will be no difficulty in getting rid of the stuff. This is the policy which used to be stigmatised by as the policy of buying a biscuit early in the morning and walking about all day looking for a dog to give it to."

Churchill on the Annual Crisis of the National Debt

10 February 2022 Comments 1 Comment

"There are two ways in which a gigantic debt may be spread over new decades and future generations. There is the right and healthy way; and there is the wrong and morbid way. The wrong way is to fail to make the utmost provision for amortisation which prudence allows, to aggravate the burden of the debts by fresh borrowings, to live from hand to mouth and from year to year, and to exclaim with Louis XV: 'After me, the deluge!'” —WSC, 1927