“ You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we're not bound by that same limitation? We must act today in order to preserve tomorrow. ”
Ronald Reagan, Inaugural Address (20 January 1981). copy citation
| Author | Ronald Reagan |
|---|---|
| Source | Inaugural Address |
| Topic | nation borrowing individuals |
| Date | 20 January 1981 |
| Language | English |
| Reference | |
| Note | |
| Weblink | https://avalon.law.yale.edu/20th_century/reagan1.asp |
Context
“For decades, we have piled deficit upon deficit, mortgaging our future and our children's future for the temporary convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals.
You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we are not bound by that same limitation?
We must act today in order to preserve tomorrow. And let there be no misunderstanding—we are going to begin to act, beginning today.
The economic ills we suffer have come upon us over several decades.” source
You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we are not bound by that same limitation?
We must act today in order to preserve tomorrow. And let there be no misunderstanding—we are going to begin to act, beginning today.
The economic ills we suffer have come upon us over several decades.” source
Meaning and analysis
