--- title: "Meaning & Key Takeaway of: The president says we need to raise the…" description: "\"The president says we need to raise the debt ceiling because America pays its bills. No if we paid our bills we wouldn't have all this debt. The reason..." image: "https://sms4smile.com/quotes/i/515/peter-schiff-8095_america_the-president-says-we-need-to-raise-the_1836737.png" --- # The president says we need to raise the debt ceiling… ![“The president says we need to raise the debt ceiling because America pays its bills. No if we paid our bills we wouldn't have all this debt. The reason we have to raise the debt ceiling is because we can't pay our bills and we have to borrow money because we don't have any money to pay our bills.” quote by Peter Schiff](https://sms4smile.com/quotes/i/515/peter-schiff-8095_america_the-president-says-we-need-to-raise-the_1836737.png) [Download](https://sms4smile.com/quotes/i/515/peter-schiff-8095_america_the-president-says-we-need-to-raise-the_1836737.png) [Open image](https://sms4smile.com/quotes/i/515/peter-schiff-8095_america_the-president-says-we-need-to-raise-the_1836737.png) > “The president says we need to raise the debt ceiling because America pays its bills. No if we paid our bills we wouldn't have all this debt. The reason we have to raise the debt ceiling is because we can't pay our bills and we have to borrow money because we don't have any money to pay our bills.” [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The speaker argues that raising the debt ceiling is necessary because the government cannot meet its obligations without borrowing, implying fiscal mismanagement. **In simple terms:** Raising the debt ceiling is needed because the government lacks cash to pay bills. Key Takeaway Recognize fiscal limits and seek sustainable budgeting. Themes fiscal policy government finance debt management Mood concerned serious Type political economic When to use this quote - budget planning - policy debate - public finance Key Concepts budget deficits borrowing tax policy spending cuts Questions to Reflect On - How can spending be reduced without harming essential services? - What long‑term reforms could prevent repeated debt ceiling crises? A Different Perspective Raising the ceiling does not solve underlying spending excesses. ★ ★ ★ ★ ★ No ratings yet [America](https://sms4smile.com/quotes/about/america/) [Bills](https://sms4smile.com/quotes/about/bills/) [Ceilings](https://sms4smile.com/quotes/about/ceilings/) [Debt](https://sms4smile.com/quotes/about/debt/) [Debt ceiling](https://sms4smile.com/quotes/about/debt-ceiling/) [Debt Reason](https://sms4smile.com/quotes/about/debt-reason-2072593/) [Economics](https://sms4smile.com/quotes/about/economics/) [Ifs](https://sms4smile.com/quotes/about/ifs/) [Need Raise](https://sms4smile.com/quotes/about/need-raise-1831018/) [Needs](https://sms4smile.com/quotes/about/needs/) [Paid](https://sms4smile.com/quotes/about/paid/) [Pay](https://sms4smile.com/quotes/about/pay/) [Philosophy](https://sms4smile.com/quotes/about/philosophy/) [Political](https://sms4smile.com/quotes/about/political/) [President](https://sms4smile.com/quotes/about/president/) [Raise Debt](https://sms4smile.com/quotes/about/raise-debt-849269/) [Raises](https://sms4smile.com/quotes/about/raises/) [Reason](https://sms4smile.com/quotes/about/reason/) [Taxes](https://sms4smile.com/quotes/about/taxes/) [Wouldn Debt](https://sms4smile.com/quotes/about/wouldn-debt-2318177/) ## Related quotes > [It is simply science fiction fantasy to say that, if you do not raise the debt ceiling, that everything is going to collapse.](https://sms4smile.com/quotes/mike-lee/it-is-simply-science-fiction-fantasy-to-say-that-if-you-do-not-raise/) [Mike Lee](https://sms4smile.com/quotes/author/mike-lee/) > [If I was in Congress, I would not vote to raise the debt ceiling.](https://sms4smile.com/quotes/sean-hannity/if-i-was-in-congress-i-would-not-vote-to-raise-the-debt-ceiling/) [Sean Hannity](https://sms4smile.com/quotes/author/sean-hannity/) > [We're not going to default. We just won't default. I mean, there are ways of not defaulting even if you don't raise the debt…](https://sms4smile.com/quotes/eric-bolling/we-re-not-going-to-default-we-just-won-t-default-i-mean-there-are/) [Eric Bolling](https://sms4smile.com/quotes/author/eric-bolling/) > [It's not about what the speaker wants. It's not about necessarily what I want. There's two other principles involved here. It's what the constituents…](https://sms4smile.com/quotes/tim-huelskamp/it-s-not-about-what-the-speaker-wants-it-s-not-about-necessarily-what/) [Tim Huelskamp](https://sms4smile.com/quotes/author/tim-huelskamp/) > [Here's the perversity of Wall Street's psychology: The more Wall Street is convinced that Washington will act rationally and raise the debt ceiling, most…](https://sms4smile.com/quotes/andrew-ross-sorkin/here-s-the-perversity-of-wall-street-s-psychology-the-more-wall/) [Andrew Ross Sorkin](https://sms4smile.com/quotes/author/andrew-ross-sorkin/) > [I'm not going to raise the debt ceiling.](https://sms4smile.com/quotes/ted-yoho/i-m-not-going-to-raise-the-debt-ceiling/) [Ted Yoho](https://sms4smile.com/quotes/author/ted-yoho/) > [I think it's scary for consumer confidence and for confidence in U.S. businesses and potential credit ratings if we don't make sure that we…](https://sms4smile.com/quotes/andy-jassy/i-think-it-s-scary-for-consumer-confidence-and-for-confidence-in-u-s/) [Andy Jassy](https://sms4smile.com/quotes/author/andy-jassy/) > [I think at the end of the day we have to raise the debt ceiling, because America pays its bills.](https://sms4smile.com/quotes/terri-sewell/i-think-at-the-end-of-the-day-we-have-to-raise-the-debt-ceiling/) [Terri Sewell](https://sms4smile.com/quotes/author/terri-sewell/) > [When President Obama asked Congress to raise the debt ceiling $2 trillion and offered sequestration as an offset, I opposed it. I did not…](https://sms4smile.com/quotes/mike-turner/when-president-obama-asked-congress-to-raise-the-debt-ceiling-2/) [Mike Turner](https://sms4smile.com/quotes/author/mike-turner/) > [America pays its bills. It always has. It always will. The fact that Washington is now debating whether to honor its debts and obligations,…](https://sms4smile.com/quotes/peter-welch/america-pays-its-bills-it-always-has-it-always-will-the-fact-that/) [Peter Welch](https://sms4smile.com/quotes/author/peter-welch/) > [Bless his heart, I have respect for Mitt Romney, but I do not have respect for what he has done through this debt increase…](https://sms4smile.com/quotes/sarah-palin/bless-his-heart-i-have-respect-for-mitt-romney-but-i-do-not-have/) [Sarah Palin](https://sms4smile.com/quotes/author/sarah-palin/) > [We would be somewhat foolish to work out something on stopping us from going over the cliff and then a month or six weeks…](https://sms4smile.com/quotes/harry-reid/we-would-be-somewhat-foolish-to-work-out-something-on-stopping-us/) [Harry Reid](https://sms4smile.com/quotes/author/harry-reid/) > [The Republican argument that raising the debt ceiling encourages additional future spending is logically irresponsible. The debt ceiling has to be raised to authorize…](https://sms4smile.com/quotes/eliot-spitzer/the-republican-argument-that-raising-the-debt-ceiling-encourages/) [Eliot Spitzer](https://sms4smile.com/quotes/author/eliot-spitzer/) > [Most of the major increases in the debt ceiling have been accompanied by structural changes in the way we raise and spend money.](https://sms4smile.com/quotes/charles-bass/most-of-the-major-increases-in-the-debt-ceiling-have-been-accompanied/) [Charles Bass](https://sms4smile.com/quotes/author/charles-bass/) > [I would be embarrassed to tell you how many folks ran saying that they weren't going to spend a bunch of money, they weren't…](https://sms4smile.com/quotes/mick-mulvaney/i-would-be-embarrassed-to-tell-you-how-many-folks-ran-saying-that/) [Mick Mulvaney](https://sms4smile.com/quotes/author/mick-mulvaney/) ## More by Peter Schiff > [Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is…](https://sms4smile.com/quotes/peter-schiff/most-paper-money-initially-existed-as-a-substitute-for-gold-that-s/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Perhaps the most important reason to be skeptical of government inflation numbers is that the government, like a fox campaigning to guard a hen…](https://sms4smile.com/quotes/peter-schiff/perhaps-the-most-important-reason-to-be-skeptical-of-government/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency.…](https://sms4smile.com/quotes/peter-schiff/when-the-dollar-collapses-it-s-not-doing-it-in-a-vacuum-if-the-dollar/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Every time the market has corrected, since 2008, it's always been the Fed that's made the bottom. The Fed has always saved the market…](https://sms4smile.com/quotes/peter-schiff/every-time-the-market-has-corrected-since-2008-it-s-always-been-the/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [“Boom/bust cycles are not inevitable and would not occur were it not for the inflationary monetary policies that always precede recessions.”](https://sms4smile.com/quotes/peter-schiff/boom-bust-cycles-are-not-inevitable-and-would-not-occur-were-it-not/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [We had a very upwardly mobile economy, and that peaked around the 1950s when the typical middle-class American family consisted of a father with…](https://sms4smile.com/quotes/peter-schiff/we-had-a-very-upwardly-mobile-economy-and-that-peaked-around-the/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Printing money creates inflation, which weakens an economy. Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.](https://sms4smile.com/quotes/peter-schiff/printing-money-creates-inflation-which-weakens-an-economy/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [The fiat-based system has produced enormous global imbalances that are straining the global economy. Ultimately, I think the whole thing gives way and what…](https://sms4smile.com/quotes/peter-schiff/the-fiat-based-system-has-produced-enormous-global-imbalances-that/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do…](https://sms4smile.com/quotes/peter-schiff/central-banks-are-choosing-to-increase-their-gold-holdings-as-a/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Once the government runs out of foreign and private sector bidders for new Treasurys, the Federal Reserve will be the only buyer, and the…](https://sms4smile.com/quotes/peter-schiff/once-the-government-runs-out-of-foreign-and-private-sector-bidders/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [The real bubble in China is in US Treasuries, in US dollars.](https://sms4smile.com/quotes/peter-schiff/the-real-bubble-in-china-is-in-us-treasuries-in-us-dollars/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [My mother always taught me that two wrongs don't make a right. We shouldn't bail out Wall Street. We shouldn't bail out Detroit. 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They want them in the currency that they are…](https://sms4smile.com/quotes/peter-schiff/most-governments-not-all-of-them-but-most-certainly-don-t-want-their/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) [Explore all 84 Peter Schiff quotes ](https://sms4smile.com/quotes/author/peter-schiff/) ## More America quotes > [The costs of the Bush-Obama wars in Iraq and Afghanistan are now estimated to run as high as $4.4 trillion - a major victory…](https://sms4smile.com/quotes/noam-chomsky/the-costs-of-the-bush-obama-wars-in-iraq-and-afghanistan-are-now/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [Young men, especially in America, write to me and ask me to recommend “a course of reading.” Distrust a course of reading! People who…](https://sms4smile.com/quotes/andrew-lang/young-men-especially-in-america-write-to-me-and-ask-me-to-recommend-a/) [Andrew Lang](https://sms4smile.com/quotes/author/andrew-lang/) > [Well, The Day the Earth Caught Fire was a story... I don't if anybody knows what it is but it was about... in the…](https://sms4smile.com/quotes/val-guest/well-the-day-the-earth-caught-fire-was-a-story-i-don-t-if-anybody/) [Val Guest](https://sms4smile.com/quotes/author/val-guest/) > [So here's what I want you to know, and here's what I want all our men and women in uniform to know: Because of…](https://sms4smile.com/quotes/barack-obama/so-here-s-what-i-want-you-to-know-and-here-s-what-i-want-all-our-men/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [Today, the world looks to America for leadership. And America looks to its Corps of Marines.](https://sms4smile.com/quotes/ronald-reagan/today-the-world-looks-to-america-for-leadership-and-america-looks-to/) [Ronald Reagan](https://sms4smile.com/quotes/author/ronald-reagan/) > [The image of blacks usually is one of people who are suffering from hunger, unemployment, and poverty. The idea of them as agents and…](https://sms4smile.com/quotes/grace-lee-boggs/the-image-of-blacks-usually-is-one-of-people-who-are-suffering-from/) [Grace Lee Boggs](https://sms4smile.com/quotes/author/grace-lee-boggs/) > [ I'll smoke, I'll cough, I'll get the tumors, I'll die, deal? 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