Quote by Thomas Jefferson on Generations and Debt

„No generation has a right to contract debts greater than can be paid off during the course of its own existence.“

Thomas JeffersonThomas Jefferson on each generation's duty to pay off debts within its own lifespan.
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This statement emphasizes each generation's responsibility in managing debt and sustainable public finance.


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Thomas Jefferson quote about generations and paying off debt

Samuel Adams quote about defending liberty and protecting future generationsCopyright © yoice.net – Quote Artwork
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"Let us contemplate our forefathers, and posterity, and resolve to maintain the rights bequeathed to us from the former, for the sake of the latter. The necessity of the times, more than ever, calls for our utmost circumspection, deliberation, fortitude and perseverance. Let us remember that "if we suffer tamely a lawless attack upon our liberty, we encourage it, and involve others in our doom," it is a very serious consideration that millions yet unborn may be the miserable sharers of the event." Samuel Adams
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Milton Friedman quote about Social Security and pension systemsCopyright © yoice.net – Quote Artwork
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"The only reason there is a crisis about Social Security in the US and pensions in Europe and Japan is that you cannot maintain a "Ponzi" scheme indefinitely. We have collected from today's young to pay today's old and counted on tomorrow's young to keep doing so. That was a fine scheme as long as the number of young people was rising faster than old people. When that ratio comes to an end, such a system also has to end." Milton Friedman
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Noam Chomsky quote about student debt as a lifelong trapCopyright © yoice.net – Quote Artwork
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"Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It's a trap for the rest of your life because the laws are designed so that you can't get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy." Noam Chomsky
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