Debt: what history's greatest minds said
Borrowing, public debt and the duty to repay, in the words of the people who ran up and paid down the nation's accounts.
3 answers from 3 voices. Every answer quotes the figure's own words and links to the source. How we build answers.
Alexander Hamilton
- What did Alexander Hamilton say about public debt?
Hamilton viewed public debt as essential to national credit and survival, but only when managed through good faith, prudent taxation, and eventual repayment within reasonable bounds.
George Washington
- What did George Washington say about public debt?
George Washington believed public debt was unjust to future generations and urged prudent spending and timely debt repayment during peacetime, while maintaining honest public credit as a foundation of national strength.
Benjamin Franklin
- What did Franklin say about debt and money?
Benjamin Franklin warned that debt enslaves a man to his creditor, destroys liberty, and undoes both industry and frugality. He urged saving and warned against buying things one cannot afford.
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