Jun 17 2024
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BANKS AND NATIONAL DEBT
BANKS AND DEBT
Our Founding Fathers were keenly aware of the dangers of banks and national debt. The disputes between John Adams and Thomas Jefferson are legendary. However, their agreement on the dangers of debt is noteworthy.
John Adams, our second president, wrote the following:
“There are two ways to conquer and enslave a country. One is by the sword—the other is by debt.”
Thomas Jefferson, our third president, wrote:
“I predict future happiness for American’s if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.”
It seems we have ignored these words of wisdom. The following is a brief history of our fiscal wisdom, in $Billions:
Year Debt
1960 $286 Billion
1970 $371 Billion
1974 $475 Billion
1981 $998 Billion
1988 $2.6 Trillion
2000 $5.6 Trillion
2008 $10.025 Trillion
2017 $20.245 Trillion
2020 $26.945 Trillion
Today $34.830 Trillion and counting.
In later years, Jefferson added to his thoughts: “I sincerely believe that banking establishments are more dangerous than standing armies and the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
In essence, our elected representatives on both the state and federal level, are using the credit cards of our grandchildren. They should be held accountable. Think about it. In my novels, I’ve done my best to show our struggle to rid ourselves of an oppressive government. they can be found at https://history1776.com.