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This blog post has moved! It's now on my own website, here: FFQF: Give Me Liberty or Give Me Debt
Founding Father's Quote Friday,
Herky: I wish that the information on your post could be tattooed on each Washington DC politican/government employee's head. Great material and summary.The National Debt Clock at http://www.brillig.com/debt_clock/ points out that each citizen in the US currently owes $36,448.58 as his/her portion of the National Debt. And we give nearly a TRILLION in bailouts??? Where's it coming from?
LOL! Yeah, that would be a good idea ... :)That is an appalling amount of debt. I THINK that the place where we get the money for bailouts, is not by raising taxes, or from revenue. The Federal Reserve (no more "federal" than the FederalExpress) PRINTS the money that we don't have for such exorbitant payments.This, of course, pumps FIAT money into the economy, and creates inflation. Trillions of fiat dollars ... there are pictures online of what that looks like. Heh.Thanks for your comment.Happy FFQF!
Is there any hope at all for our presemt situation? It indeed looks grim. As for me, give me liberty. Outstanding post.
Thank you Cato, for your comment.I wonder the same thing myself. I'm no prophet, but I don't think that this is at all an issue of the stupidity of our government. They are doing this on purpose. With the collapse of the economic independence of America will come a total collapse of America, or of America's independence in general. Ladies and gentlemen, without further adieu, I present to you, the NEW WORLD ORDER.
Herk,Simply spectacular! I agree with Mike B.'s assertion that every person involved with our government, especially politicians, should have your writing here at part of their oath!This post is now the "Standard Bearer"! Well done!jpsPS I was reading lately that 'Hammy' was the founder of the first bank as well. Comments, validity? Cheers!
Hello JP. Thanks for reading and leaving your comment.I agree; the Founders' words presented in this post should be the standard.As for the Hamilton and the "first bank" -- yes, he was the founder of the First Bank of the United States. But it was a national bank, not a central bank that controlled all of the money and currency of the nation. If you are interested in the particulars, you may take the time to peruse my writings about him on my Hamilton blog. Enjoy!Thanks again for commenting. Happy FFQF!
Ha, our debt hasn't been paid off entirely since the 1830's and I doubt I will live to see it gone again.
Hello Kieran. Thanks for reading and commenting.I didn't know about 1830 before. Yikes. That's pretty scary.
Yep, Andrew Jackson paid it off on January 8, 1835, the only time it has ever been paid off. We were in debt since the founding of the nation in 1776. The debt piled up again during Van Buren's presidency when the Panic of 1837 struck.
Ah yes, I think I remember reading that now ... in G. E. Griffin's Creature from Jekyll Island I think.I vaguely remember reading something about the Revolutionary War debt being paid off in about 1801. Do you know anything about this? I used to know, but I have since forgotten and haven't been able to remember where I read that.Thanks for filling me in. :)
You're welcome.No, I'm afraid I don't know anything about that. Though, considering I work at a Revolutionary War historic park I ought to. I could probably find out sometime down the road.
Alright, I see. Well, if you do find anything out about it, I would love to hear it!Thanks again.
Great quotes, my friend. NOW I'm off to read that post about DiLorenzo!
Hello Jean. Thanks for reading and commenting.I am finally getting back to all of your comments -- I didn't hesitate on purpose! I've been a little busy ...Thanks again.
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