“I am not among those who fear the people. They, and not the rich, are our dependence for continued freedom. And, to preserve their independence, we must not let our rulers load us with perpetual debt.” – Thomas Jefferson, Letter from Thomas Jefferson to Samuel Kercheval (1816)

—

This letter may be read in its entirety at:

“Proposals to Revise the Virginia Constitution: I. Thomas Jefferson to “Henry Tompkinson” (Samuel Kercheval), 12 July 1816,” Founders Online, National Archives, https://founders.archives.gov/documents/Jefferson/03-10-02-0128-0002.

The common man’s independence in this republic will only be preserved if those elected or otherwise in government are not allowed to keep us in perpetual debt. Whatever the situations faced by one generation, we as a nation should not bind our next generations into debt as a result of that cause. It anyone should know the ill effects of perpetual debt, certainly Jefferson was among those most qualified. This sort of debt posed insurmountable risk and was irresponsible be it personal or in government. It weakens government stability and naturally this weakens the ability to improve prosperity.

The world belongs to the living and the future to our children. Let’s hand them the best world that we can. This precludes getting and staying in irresponsible debt. Yet, here we presently are. Let’s not encourage the growth of fiscal chains on our children’s children, right?