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.