. . . that all the dollars are adjusted for inflation.
Author: Jimmy Akin
Jimmy was born in Texas, grew up nominally Protestant, but at age 20 experienced a profound conversion to Christ. Planning on becoming a Protestant seminary professor, he started an intensive study of the Bible. But the more he immersed himself in Scripture the more he found to support the Catholic faith, and in 1992 he entered the Catholic Church. His conversion story, "A Triumph and a Tragedy," is published in Surprised by Truth. Besides being an author, Jimmy is the Senior Apologist at Catholic Answers, a contributing editor to Catholic Answers Magazine, and a weekly guest on "Catholic Answers Live." View all posts by Jimmy Akin
I’m going to miss this country. It was nice while it lasted.
I think that government borrowing is unconstitutional.
It is slavery for future people will be paying for this, and they’ll be working for nothing (handing over tax money). What crime have the future generations done?
It is taxation without representation. Nobody is representing the future generations who will pay for this, but they’ll be paying for it.
Fiat money. The root of all financial evils.
The bad news, or maybe the good news, is that our country will probably collapse under the weight of its obligations, if not from its grave violations of the moral order, so our future generations probably won’t have to pay the debt back.
We’ll have to see what replaces it to know if this is good or bad.
And it’s just money that’s being taken from the productive sectors of the economy and being redistributed to the unproductive sectors. How is that going to help the economy?
What’s wrong with this graphic is that it isn’t the same US that’s getting into all of this trouble. There are more people now and the country as a whole has more money. The chart should use percent of GNP or something like that if they want to be fair and accurate.
Note I don’t believe better fairness and accuracy would make the final analysis much less depressing.
It reminds me of the “rich are getting richer” argument debunked by Sowell. There are some people making a ton of money. Its a state of life for most people that one moves into for a couple of years and then back out of again. But put it in a chart and it looks terrible.
Today is April 15 so you know what that means…
Time to attend your local tea party! No country ever taxed itself to prosperity; but counties have taxed themselves into tyranny.