In 1994 America’s National Debt was $4.5 trillion. In 2009, our national debt was $10.6 trillion. In 2021 our national debt is around $27.78. This does not include unfunded liabilities – See the 2017 article in Forbes: Your Pension is a Lie: There’s $210 Trillion in Liabilities Our Government Can’t Fulfill , and also from 2013 reason.com: Without Borrowing, Our Government Can Only Pay 60% of its Bills)
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You should view these politicians with the deepest contempt you can possibly imagine. What they are doing to this country, what they are doing to our finances - there is not a criminal in any federal prison, state prison, city or county jail with respect to financial crimes of any sort who collectively could have done the kind of damage that Barack Obama and Harry Reid and Nancy Pelosi and yes, willing, timid, gutless Republicans have done to this country! To your future, to your children and your grandchildren. What they are doing is with malice and with forethought." (Source)
"A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers 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)
"Interest payments [on the national debt] is a misnomer. The interest is not actually being paid. It is being borrowed and added to the debt. So, in reality, we are paying interest on the interest from previous years." - The Coming Economic Earthquake, by Larry Burkett [Note: This book was published in 1994. Not sure if that quote is still accurate, but according to thebalance.com in 2020 the interest on our national debt consumed 10% of our federal budget!
