“As a very important source of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible: avoiding occasions of expence by cultivating peace, but remembering also that timely disbursements to prepare for danger frequently prevent much greater disbursements to repel it; avoiding likewise the accumulation of debt, not only by shunning occasions of expence, but by vigorous exertions in time of peace to discharge the debts which unavoidable wars may have occasioned, not ungenerously throwing upon posterity the burthen which we ourselves ought to bear.” –George Washington, Farewell Address
It is clear, from this quote, that America’s first President thought that war was the only reason why the United States would incur debt. How things have changed.
Collectively and individually, we are up to our wazoos in debt. America’s national debt is now over $14 TRILLION, and increasing with every second. CLICK HERE for the U.S. National Debt Clock.
How America had gone astray. And how I miss him….