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thank you for posting that. that is the exact quote i was looking for last friday, to put with these:

the power for Congress to borrow was ONLY intended for emergencies like war!!!

“... but by vigorous exertions in time of peace to discharge the debts which unavoidable wars have occasioned, ...” - George Washington

“It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.”
Thomas Jefferson

“Avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts which unavoidable wars have occasioned, not ungenerously throwing upon posterity the burthen which we ourselves ought to bear.”
George Washington

” ... nor the nation itself can validly contract more debt, than they may pay within their own age, ...

and:
“... To say that the United States should be answerable for twenty-five millions of dollars without knowing whether the ways and means can be provided, and without knowing whether those who are to succeed us will think with us on the subject, would be rash and unjustifiable. ... “

Thomas Jefferson, quotes about Debt:

But with respect to future debt; would it not be wise and just for that nation to declare in the constitution they are forming that neither the legislature, nor the nation itself can validly contract more debt, than they may pay within their own age, or within the term of 19 years.

And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

I, however, place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared.

James Madison, quotes about Debt:

History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling the money and its issuance.

I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on the objects of benevolence, the money of their constituents.