“We shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves, and consequently within what may be deemed the period of a generation, or the life of the majority.”
– Thomas Jefferson, in an 1813 letter to John Wayles Eppes
Two years ago today, Senate Democrats proposed a $1.9 trillion increase in the national debt ceiling, allowing the national debt to reach a maximum of $14.3 trillion. It was approved eight days later. Meanwhile, the $1.9 increase alone is roughly equal to the average national debt—in its entirety—carried by Ronald Reagan during his presidency.
It’s about to happen again. Another trillion bites the dust.
Look at the history of the debt ceiling. Democrats do it. Republicans do it. Just because it’s normal, however, doesn’t make it right.
291 DAYS UNTIL ELECTION DAY
ONE YEAR UNTIL JANUARY 20, 2013