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Two, is current occurrences. Since the current economic began many years ago, U.S. Government debt has exploded into what exactly is now uncharted waters. A great deal of this appears have simply been preserve powerful banking interests. Despite the fact that attribution for this quote seems difficult, it is correct that the democracy in a position to exist up until the majority discovers it can vote itself largess to the public treasury.
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We went into debt though less for projects and more towards entitlements. Our wars were less against countries and more towards combating terrorism although the costs weren't any less crucial. We have certainly had our share of state takeover of personal debts. The bailouts of 2008-2009 moved private debt towards the public. More surreptitiously, the unofficial financial arm of the government (the Fed), has undertaken a tremendous acquisition of public and personal debt since 2008 for the tune of trillions. The majority of the private debt elevates the form of home home mortgages. This Fed action does not allow rational pricing in this marketplace and tends to distort stock markets.
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