artist, thinker, entrepreneur, general-pain-in-the-ass

Of Debt & Freedom

The United States’ debt in 1861 was $90 million. By 1865, it was $2.7 billion, a 3000% increase in 4 years to take away the states’ rights to secede from the union. Similarly, from 1932 to 1945, the US debt went from $19.4 billion to $258 billion, a 1330% increase, in order to “save” the nation from ruin. Both of these moments were followed by periods of massive increases in government spending as well as increased government interference in the lives of the citizenry. The reason? As Hans Sennholz put it, “A government debt is a government claim against personal income and private property – an unpaid tax bill.”