“No enterprise, small or large, public or private, can remain self-governing, let alone successful, so deeply in hock to others as we are about to be.”
Tip: press → for another quote, C to copy, S to share.
The federal government now spends one of every four dollars in the entire economy. It borrows one of every three dollars it spends. No nation, no entity, large or small, public or private, can thrive, or survive intact, with debts as huge as ours.
But if our nation goes over a financial Niagara, we won't have much strength and, eventually, we won't have peace. We are currently borrowing the entire defense budget from foreign investors. Within a few years, we will be spending more on interest payments than on national security. That is not, as our military friends say, a 'robust strategy.'
If freedom's best friends cannot unify around a realistic, actionable program of fundamental change, one that attracts and persuades a broad majority of our fellow citizens, big change will not come.
The failure of national economic policy is costing us more than jobs it has begun to weaken that uniquely American spirit of risk-taking, large ambition, and optimism about the future. We must rally them now to bold departures that rebuild our national morale as well as our material prosperity.