Ronald Reagan actually said...

This amounts to a private bankruptcy law, which is beyond the Congress' constitutional authority to enact.

Statement on Signing the Bill Amending the Declaration of Taking Act

11/13/1986

More Ronald Reagan Quotes

You can't spend yourself rich any more than you can drink yourself sober.

Government has borrowed too much and spent too much.

Government consumes wealth, it doesn't create it.

I am pleased to announce the appointment of former Senator John Tower, former Secretary of State Edmund Muskie, and former National Security...