How the U.S. Went $40 Trillion in Debt

 How the U.S. Went $40 Trillion in Debt - wsj.com

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From X: Gunther Eagleman: $40 TRILLION DEBT — AND TRUMP JUST DROPPED THE ONLY REAL SOLUTION Reporter: “National debt just hit $40 trillion. What are you going to do about it?” Trump: “It’s been a problem for 35 years. But what we have now that we never had before is TREMENDOUS growth. We’ve never had growth like this. The way you take care of debt is with GROWTH. And the growth will take care of it very easily.” That’s it. No new taxes. No austerity lectures.

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Recommended reading: The Government Just Asked for Another $739 Billion in Debt. For One Quarter - lewrockwell.com

Quotes:

• "If you knew that you could live in luxury for the rest of your life but that by doing so it would absolutely destroy the future of your children, your grandchildren, and your great-grandchildren, would you do it? Well, that is exactly what we are doing as a nation. Over the past several decades we have stolen $15 trillion dollars from future generations so that we could enjoy a dramatically inflated level of prosperity. Our 15 trillion dollar party has been a lot of fun, but what we have done to our children and our grandchildren has been beyond criminal. We ran up the greatest mountain of debt in the history of the planet and we are sticking them with the bill. Sadly, both political parties have been responsible for the big spending that has been going on." (The Economiccollapseblog.com)
• "A democracy cannot exist as a permanent form of government. It can only exist until the majority discover it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship and then a monarchy." (Source)