Saturday, October 20, 2012

Government's Debt Problem

Thomas Jefferson once said the following…

"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."

— Source: Vice President THOMAS JEFFERSON, letter to John Taylor, November 26, 1798.The Writings of Thomas Jefferson, ed. Paul L. Ford, vol. 7, p. 310
The Secrets of The Federal Reserve