very relevant...how ‘bout this one:
To contract new debts is not the way to pay old ones.
GEORGE WASHINGTON, letter to James Welch, Apr. 7, 1799
To contract new debts is not the way to pay old ones.
GEORGE WASHINGTON, letter to James Welch, Apr. 7, 1799
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That is a profound point. We face a crises in our financial system today because of overleverage . . . and Washington’s solution is deficit spending.