Resist We Much, Your post reflects a profound misunderstanding of American sovereign debt. Most of that debt is domestic. That is, it’s money we borrow from ourselves, not China. Moreover, it’s nonsensical to say that we are imposing that debt on to our children, since once we all die, the ownership of our debt will be passed onto them.
righty45 on September 26, 2013 at 11:43 P
You need to learn the difference between the national debt and the
debt held by the public. And, as for children, I’m merely using your
idol’s words against him. For further understanding for those not part of the original conversation, see: The Hypocrisy Of Barack Obama And Democrats On Raising The Debt Ceiling Is Nothing Short Of Stunning.
BTW, I can understand why someone would call you a ‘child abuser.’
‘I go on the principle that a Public Debt is a Public curse and in a Republican Government a greater than in any other.’
— James Madison (1751-1836) Father of the Constitution, 4th President of the United States
‘It is incumbent on every generation to pay its own debts
as it goes. A principle which if acted on would save one-half the wars
of the world.’
— Thomas Jefferson, Author of the Declaration of Independence, 3rd President of the U.S.
‘No pecuniary consideration is more urgent, than the
regular redemption and discharge of the public debt: on none can delay
be more injurious, or an economy of time more valuable.’
— George Washington (1732-1799) Father of the Country, 1st President of the United States
‘I regret, as much as any member, the unavoidable weight
and duration of the burdens to be imposed; having never been a proselyte
to the doctrine, that public debts are public benefits. I consider
them, on the contrary, as evils which ought to be removed as fast as
honor and justice will permit.’
— James Madison (1751-1836) Father of the Constitution, 4th President of the United States
‘I wish it were possible to obtain a single amendment to
our Constitution. 1 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, Author of the Declaration of Independence, 3rd President of the U.S.
‘Think what you do when you run in debt; you give to another power over your liberty.’
— Benjamin Franklin (1706-1790) Statesman, Scientist, Inventor, Printer and Philosopher
‘I place economy among the first and most important of
virtues, and public debt as the greatest of dangers to be feared…To
preserve our independence we must not let our leaders load us with
perpetual debt. If we can prevent the government from wasting the
labours of the people under the pretence of caring for them, we will be
wise.’
— Thomas Jefferson, Author of the Declaration of Independence, 3rd President of the U.S.
‘As parents, we can have no joy, knowing that this
government is not sufficiently lasting to ensure any thing which we may
bequeath to posterity: And by a plain method of argument, as we are
running the next generation into debt, we ought to do the work of it,
otherwise we use them meanly and pitifully. In order to discover the
line of our duty rightly, we should take our children in our hand, and
fix our station a few years farther into life; that eminence will
present a prospect, which a few present fears and prejudices conceal
from our sight.’
— Thomas Paine (1736-1809) Patriot, Author & Pamphleteer
‘There are two ways to enslave a nation. One is by the sword. The other is by debt.’
— John Adams, Second President of the United States and Patriot
‘As parents, we can have no joy, knowing that this
government is not sufficiently lasting to ensure any thing which we may
bequeath to posterity: And by a plain method of argument, as we are
running the next generation into debt, we ought to do the work of it,
otherwise we use them meanly and pitifully. In order to discover the
line of our duty rightly, we should take our children in our hand, and
fix our station a few years farther into life; that eminence will
present a prospect, which a few present fears and prejudices conceal
from our sight.’
— Thomas Paine (1736-1809) Patriot, Author & Pamphleteer
‘He that goes a borrowing goes a sorrowing.’
— Benjamin Franklin (1706-1790) Statesman, Scientist, Inventor, Printer and Philosopher
‘To contract new debts is not the way to pay old ones.’
— George Washington (1732-1799) Father of the Country, 1st President of the United States
‘The mass of mankind has not been born with saddles on
their backs, nor a favored few booted and spurred, ready to ride them
legitimately, by the grace of God.’
— Thomas Jefferson, Author of the Declaration of Independence, 3rd President of the U.S.
‘But with respect to future debt; would it not be wise
and just for that nation to declare in the constitution they are forming
that neither the legislature, nor the nation itself can validly
contract more debt, than they may pay within their own age, or within
the term of 19 years.’
— James Madison (1751-1836) Father of the Constitution, 4th President of the United States
‘We must have no carelessness in our dealings with public
property or the expenditure of public money. Such a condition is
characteristic of undeveloped people, or of a decadent generation.’
— Calvin Coolidge (1872-1933) 30th President of the United States
*******************
'Moreover, it’s nonsensical to say that we are
imposing that debt on to our children, since once we all die, the
ownership of our debt will be passed onto them.
righty45 on September 26, 2013 at 11:43 PM'
Aren't you sweet? You intend to bequeath to our children and future generations the incredible, extra-special, most noble gift of our debt. Sorry if this offends, but the Founding Fathers would agree with me: You are a most immoral person. They'd likewise want me to remind you of the old, but still quite relevant phrase: No taxation without representation.
Someone is going to have to pay the legacy of liabilities that you have decided would make a fabulous inheritance to some, who haven't even had the privilege of being born. You WANT, WANT, WANT, but you don't want to pay for it. You vote for those that will give you all kinds of goodies; yet, you and they will be DEAD, DEAD, DEAD (fortunately, in some ways) when the bills come due. Thus, Americans, who were not represented when the debt-exploding schemes were cooked up, will be forced to pay for them.
If you wish to see just a few examples of how this Ponzi tax scheme is going to work, take a look at what will be demanded of future workers just to keep old fogies in the style to which they believe themselves entitled: 'Lies' About Social Security and Medicare Pandering Politicians Never Told You.
Shame on you.
BTW: The nation's unfunded liabilities are around $222 trillion.
http://tinyurl.com/k9zpr8d
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