Showing posts with label debt. Show all posts
Showing posts with label debt. Show all posts

Saturday, February 22, 2025

Founders Quote, 22 Feb. 2025

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, Message to the House of Representatives — 1793

Nothing destroys a nation more than debt and at present the U.S. debt is $36.5 trillion dollars; by the end of the decade it will range somewhere from $42 trillion to over $47 trillion. Simply unsustainable and no, we can't print our way out of it either.

As Robert Heinlein once said, "There ain't no such thing as a free lunch." At some point it has to be paid; better to bite the bullet now than pay later.