"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Monetary Policy, the Federal Reserve, and the National Debt Problem
Submitted by Melinda L. Secor on Sun, 2011-05-15 00:00
"The current economic crisis through which the United States is passing has given a heightened awareness to the country's national debt. After a declining trend in the 1990s, the national debt has dramatically increased from $5.7 trillion in January 2001 to $10.7 trillion at the end of 2008, to over $14.3 trillion through April of 2011. The debt has reached 98 percent of 2010 U.S. Gross Domestic Product."
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