Thomas Jefferson on National Debt

July 30, 2011

“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.” –Thomas Jefferson, letter to James Madison, 1789

Thank you to Greg Stachura for sending me this quote!

BG