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If the Nation is living within its income, its credit is good. If, in some crises, it lives beyond its income for a year or two, it can usually borrow temporarily at reasonable rates. But if, like a spendthrift, it throws discretion to the winds, and is willing to make no sacrifice at all in spending; if it extends its taxing to the limit of the peoples power to pay and continues to pile up deficits, then it is on the road to bankruptcy.Roosevelt, Franklin D.
Source: FRANKLIN D. ROOSEVELT, governor of New York, campaign address on the federal budget, Pittsburgh, Pennsylvania, October 19, 1932.The Public Papers and Addresses of Franklin D. Roosevelt, 19281932, p. 797 . · This quote is about uncategorised · Search on Google Books to find all references and sources for this quotation.
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