"I can scarcely contemplate a greater calamity that could befall this country, than be loaded with a debt exceeding their ability ever to discharge. If this be a just remark, it is unwise and improvident to vest in the general government a power to borrow at discretion, without any limitation or restriction."
by:
Brutus
pseudonym, probably Robert Yates (1738-1801) politician and judge
Source:
The Anti-Federalist,1787-88.
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Reader comments about this quote:
Cheer Up! We're going to send 17B to the European disaster. What the hell...it's only paper...And you're Grandchildren can pay it off. Thanks Obama, you moron.
 -- J Carlton, Calgary     
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    Unfortunatly, Obama is not a moron, he knows exactly what he is doing, and that is to wreck the economy of this country.
     -- jim k, Austin, Tx     
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    I agree...the Obama-way is to cripple the whole world economy and he can become King of the World and rescue us.
     -- Irene3n2, VA     
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    Yes, Obama has added more debt to the back of Americans than any other president in history -- but so has every single president/Congress since this debt bomb started in the 30's. What most people don't realize is that ever since the American people's gold was declared illegal and was turned in for Federal Reserve Notes, all our 'money' is now 'borrowed' into existence -- that is to say, a paper bill used to be issued to represent real gold or silver in a vault somewhere, but NOW, paper money is issued when a bank 'loans' it to someone -- the money does not exist until the borrower 'promises' to pay it back with interest. Every single 'dollar' in circulation represents an IOU that someone somewhere is paying interest on. This system bankrupts every nation that employs it -- it is only a matter of time before the bankers acquire all the property of the nation to cover the unpayable debt. Case in point, all those million foreclosed homes that were financed by Freddie Mac and Fanny Mae have been 'sold' at bargain basement prices to private banks like Goldman Sachs and will be rented out -- the banks now own the houses paid for by the American people which they will have to rent back. And this happens over and over and over. Look at a satellite picture of the USA -- 99% of it is held by banks with folks paying interest and property taxes on it - -we are serfs on our own land paying nearly all the fruits of our labors to merely live in this world for the bankers pleasure and profit. And yet ever the noose tightens...
     -- E Archer, NYC     
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     -- Pedro Borrero, Puerto Rico      
    Nailed it! Read and weap corrupt government people whomever you maybe. The electorate can only tolerate so much. We citizens can and will soon speak. Remember the second admendment.
     -- John Moore, Tucson, AZ     
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    @ John Moore~ We can only hope our Constitution stands. PPACA hearings start today at the SC, a decision at the end of the term. If PPACA stands the Constitution falls.
     -- Caroll, Georgia     
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     -- Mary - MI      
    The Federal Reserve was created solely to enable, the willy-nilley, spending habits of our Federal Government. Together with rampant taxation, counterfeiting and perpetual inflation caused by the excesses of the Federal Reserve; the middle class is being driven to extinction. Only the rich and impoverished will survive.
     -- James M. Young, Reno, Nevada     
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    Fuck this quote
     -- Obama rules     
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