The “indebted” American people

Contributed
Published: July 31, 2008

To the editor,
When “King George” first assumed the throne in January 2001, the national debt was $5.7 trillion, and is now projected to be in excess of $10 trillion, by the time his royal highness abdicates, in January 2009.
That’s $10,000,000,000,000, with the government straining resources needed just to meet interest payments on this shameful mountain of debt. (The interest alone totaled $430 billion this past year!)
If I were of devious mind, and desired to perpetuate the total indebtedness of the American people, I would continue to do what is already being done. First, I would continue to assess real property at artificially high levels.
Secondly, I would encourage the continued use of adjustable rate mortgages.
And thirdly, I would expect the U.S. government to reward unscrupulous lending practices, with large infusions of cash!
Yes sir, that’s exactly what I would do, if I were of devious mind. And, to think that all of the indebtedness that this country and its people have incurred, both now and in the past, could have been prevented by a strict inherence to the precepts set forth in the U.S. Constitution, as far back as 1913.
That’s when the U.S. Congress betrayed the public’s trust, by forsaking their own mandated powers to create the nation’s own debt-free currency.
Instead, they succumbed to the desires of the financiers of their day, by creating the debt-inducing Federal Reserve System (without ever amending the Constitution!)
Since that ill-fated time, “we the people” have been forced to endure never-ending cycles of “boom and bust” with a reliance upon war, to “rejuvenate” the economy.
Yes sir, if I were of devious mind, and desired the complete subjugation of the American people, I would do exactly what has already been done!
Robert W. Murphy
Unionville