Thursday, March 19, 2009

What Constitutes Perpetual Debt?

"I place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt."

--Thomas Jefferson, third US president, architect and author (1743-1826)

Our national debt is now calculated to be 11 trillion dollars ($11,000,000,000,000.)

Are we there yet?


1 comment:

John said...

"Our" national debt? I don't remember ever signing on the dotted line for this, do you? Oh, wait, our political statist elite believe my life and work belong to the government, the group, the state. Therefore, so does my earnings and wealth to pay for their spending. One day we will wake up from this nightmare.

I don't think we're there yet, Toto.