Wednesday, March 10, 2010

Glenn Beck - Current Events & Politics - The Revolutionary Debt Bomb - And How the Founders Fixed It!

Glenn Beck - Current Events & Politics - The Revolutionary Debt Bomb - And How the Founders Fixed It!

This is a very informative article on how the founders dealt with Government debt, by Larry Schweikart University of Dayton.
If only we can get today's Government to follow in the wise footsteps of Hamilton.
This is a important key to the article "
All the Founders recognized that for the “monied men” to ally with the new nation, it had to honor its contracts (which it did through assumption); it had to establish a sound currency (which it did by adopting a gold standard and coining money along the Spanish system of tens and fives); and by paying its debts, which it did. By the presidency of Andrew Jackson, the nation had a surplus, but more important, it had a sterling credit record, and investment money flowed into the new nation."

2 comments:

Chris said...

They don't giove a crap about the debt. They cared when it was Bush's debt but now that Obama has tripled it they are fine with it.

Mark Adams said...

What do you think, Chris. A Constitutional Amendment barring any one that holds a Marxist/Communist, socialist or fascist ideology from ever holding office?