Thursday, June 16, 2011

ALEXANDER HAMILTON - HIS BLESSING AND BURDEN

That is the premise of a very good article that appeared in the June 2011 issue of the AARP Bulletin and I suggest it will provide you with a very sound perspective into our economic crisis. I would be doing a disservice if I did not report that I am often disturbed by the political endorsements made by AARP, and I think it sold its members and all senior citizens down the road when it made a big push to support Obamacare.

I urge you to take a couple of minutes to read Jim Toedtman’s excellent analysis of our current economic problems, which really date back to Alexander Hamilton’s early support of public debt. To whet your interest permit me to provide you this peak into the Toedtman article:

“This is a serious moment. After all, the clock is ticking. In February 1790, at Hamilton’s direction, the new nation took out its first loan, a grand total of $19,608.81. Today, the federal government increases its debt by that much every 3/10th of a second.”

Here is the link to the full article:

http://www.aarp.org/politics-society/government-elections/info-06-2011/paying-national-debt.print.html

Please tell me how can our Congress continue to take so many vacations when our country is sinking deeper in massive debt day by day and hour by hour? Apparently it is more important for members of Congress to go to home and raise more campaign dollars than it is to act upon our crushing financial debt and other pressing matters.

COMMANDER GRANGER

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