Political Quotes

“I appreciate the point of my friend from Illinois, and I commend him for his diligence in leading this effort, which is in the best interest of our Nation, not only for our own internal security but the health and vitality of America. I say to my friend from Illinois, as a banker by profession, I can tell you that interest is like owning a horse that eats while you sleep. It provides no jobs. It goes on day and night. Its productivity is very hard to identify. It is only identifiable for those who receive it, but for those who are paying it, it is a cost of doing business. The theory of interest is that you can make money with some borrowed money by investing it and doing something like increasing inventory, increasing jobs. But what we are doing with interest as a Government is simply mortgaging the future because with the debt that we are continuing to pile up and the interest that we are having to pay, we are finding now that we are having to borrow to pay the interest. There are those who say, well, this can go on. But reality dictates that it cannot. If there is anything we can learn from history, it is that what goes around comes around. And the day of reckoning will happen.”