“And
that in a country, which, like this, is possessed of little active wealth, or
in other words, little monied capital, the necessity for the resource, must, in
such emergencies, be proportionately urgent.” Hamilton, “Report on Credit,”
1790
Our country
has limited funds. We should only borrow
money for urgent matters.
This passage
caught my attention because it shows that America has been “crying broke” for
centuries. Based on foxnews.com, as of September, 2012, America owes over $16
trillion. $11 trillion is owed to foreign and domestic investors and the
Federal Reserve. $5 trillion is owed to the social security trust fund and federal pension systems. Seems America has
disregarded Hamilton’s warning.
Valerie
No comments:
Post a Comment