Tag: national debt

Churchill on the Annual Crisis of the National Debt

Churchill on the Annual Crisis of the National Debt

"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

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Churchill on the Stimulus Package

Churchill on the Stimulus Package

No, Sir Win­ston has not inter­rupt­ed his first mil­lion years in heav­en to com­ment on the U.S. Government’s “Fis­cal Stim­u­lus Pack­age.” And I’m not going to sug­gest what he would think of it—heaven for­bid. I’ve just sift­ed through Churchill by Him­self for applic­a­ble quo­ta­tions, rang­ing them in strict chrono­log­i­cal order. Draw your own conclusions:

“You may, by the arbi­trary and ster­ile act of Government—for, remem­ber, Gov­ern­ments cre­ate noth­ing and have noth­ing to give but what they have first tak­en away—you may put mon­ey in the pock­et of one set of Eng­lish­men, but it will be mon­ey tak­en from the pock­ets of anoth­er set of Eng­lish­men, and the greater part will be spilled on the way.”…

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