US DEBT CRISIS

http://www.usdebtclock.org/


Robert R. Livingston
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“I wish it were possible to obtain a single amendment to our Constitution.

I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution;

I mean an additional article, taking from the federal government the power of borrowing.” — Thomas Jefferson, November 26, 1789


“There are two ways to conquer

and enslave a nation.

One is by the sword,

the other is by debt.” — John Adams

“Paper is poverty…. It is only the ghost of money, and not money itself.” –Thomas Jefferson, Letter to Edward Carrington, 1788

“There does not exist an engine so corruptive of the government and so demoralizing of the nation as a public debt.

It will bring on us more ruin at home than all the enemies from abroad….” –Thomas Jefferson, Letter to Nathaniel Macon, 1821

“There is no means of avoiding the final collapse of a boom brought about by credit expansion.

The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further expansion, or later as a final total catastrophe of the currency involved.” –Ludwig von Mises, Austrian Economist

“Germany will militarize herself out of existence,

England will expand herself out of existence,

and America will spend herself out of existence.” –Lenin 1917

“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.” — George Washington, Letter to J. Bowen of Rhode Island, January 9, 1787

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