But with respect to future debt; would it not be wise and just for that nation to declare in the constitution they are forming that neither the legislature, nor the nation itself can validly contract more debt, than they may pay within their own age, or within the term of 19 years.
Thomas Jefferson, September 6, 1789
1 comment:
Well, at least that.
It would be better if the government, that can coin its own currency (US Constitution, Article 1, Section 8), do so – instead of borrow us into unpayable debt.
QUESTIONS:
Ever wonder why a People with the overall wealth (Wealth = Raw Resources + Innovation + Labor) of the US is in debt to anyone??
We owe? To whom? What was it that they loaned us? If they loaned us "bookkeeping entries" instead of wealth, then... do we pay them back with bookkeeping entries - or do they want labor?
Answers: http://www.moneyaswealth.blogspot.com
We need to wake up and smell the unpayable interest.
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