Franklin D. Roosevelt, Address to the American Retail Federation, Washington, D.C. (May 22, 1939); reported in The Public Papers and Addresses of Franklin D. Roosevelt, 1939 (1941), p. 351.
“
Our national debt after all is an internal debt owed not only by the Nation but to the Nation. If our children have to pay interest on it they will pay that interest to themselves. A reasonable internal debt will not impoverish our children or put the Nation into bankruptcy.
— Franklin D. Roosevelt on Government debt
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "Our national debt after all is an internal debt owed not only by the Nation but to the Nation. If our children have to pay interest on it they will pay that interest to themselves. A reasonable internal debt will not impoverish our children or put the Nation into bankruptcy." in the context of "Franklin D. Roosevelt, Address to the American Retail Federation, Washington, D.C. (May 22, 1939); reported in The Public Papers and Addresses of Franklin D. Roosevelt, 1939 (1941), p. 351." to mean that wisdom is timeless.
Source: Wikiquote: "Government debt" (Quotes: Quotes are arranged alphabetically by author, M - R)
The 'What it means' explanation text was generated by Google Gemini Flash (accessed February 05, 2026). https://gemini.google.com/app
Tags
About Franklin D. Roosevelt
Franklin Delano Roosevelt (30 January 1882 – 12 April 1945), often referred to by his initials FDR, was an American statesman and political leader who served as the president of the United States, from 1933, to 1945. A Democrat, he won a record four presidential elections and dominated his party for many years as a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic depression and total war. His program for relief, recovery and reform, known as the New Deal, involved a great expansion of the role of the federal government in the economy.
About Franklin D. Roosevelt
Franklin Delano Roosevelt (30 January 1882 – 12 April 1945), often referred to by his initials FDR, was an American statesman and political leader who served as the president of the United States, from 1933, to 1945. A Democrat, he won a record four presidential elections and dominated his party for many years as a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic depression and total war. His program for relief, recovery and reform, known as the New Deal, involved a great expansion of the role of the federal government in the economy.
View all quotes →