We thought it would be appropriate to start this page with a quote from President Thomas Jefferson, third President of the United States. "I place the economy among the first and most important republican virtues and public debt as the greatest of dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt"

The U.S. began its existence in debt because of the Revolutionary War. President Jefferson argued to eliminate the debt. History shows that the U.S. kept its debt until the presidency of Andrew Jackson, who was the last president to serve with little or no debt. He left office with the country in debt $18,000.00. It is clear that the debt increases from every major war. This nation does not pay off its debt, has not for over 175 years and never will.

It does not matter which party controls the White house, they have all increased the debt fairly equally. The difference over about the last fifty years is only less then one percent. Comparing Democrats and Republicans for every dollar the Democrats raised the debt, the Republicans raised it about $2.80

It seems that neither party can bring government over spending and inflation under control. Looking at the below graph, we can determine that only during the Johnson, Carter and Clinton administrations, the government had a surplus.

Who is in charge?

"All bills for raising revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other bills.U.S. Constitution, Article 1, Section 7.

" The Congress shall have power to lay and collect taxes, duties and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States.. U.S. Constitution, Article 1, Section 8.

It is clear in the Constitution who is in charge of the countries purse strings, it is also clear that there is a fox in the hen house.

The Interest on the National Debt

In 2002, for every dollar collected from taxes, 18 cents went for interest payments on the debt. Lower interest rates today, bring the amount down to .10 cents per dollar. Can we ever pay off the National Debt? If we don't deal with this problem of massive debt now, it could very well crush our nation's future. We all now for a fact that inflation is devastating our economy, a dollar just does not go as far today as it used to, see the graph below.

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