regent
Gold Member
- Jan 30, 2012
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Did you find any quotes from Jefferson regarding racking up 5 Trillion dollars of debt in three years?
Jefferson wrote his letter to long time friend John Taylor,dated NOv.26, 1798, which was in fact advocating that such an amendment be added to the Constitution.Thomas Jefferson who, just two years after the Constitution had been in effect, argued for a Constitutional amendment: I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an article, taking from the Federal government the power of borrowing.
Thomas Jefferson, letter to Judge Spencer Roane, September 6, 1819
The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
When Jefferson assumed the Presidency, the crisis in France had passed. He slashed Army and Navy expenditures, cut the budget, eliminated the tax on whiskey so unpopular in the West, yet reduced the national debt by a third. He also sent a naval squadron to fight the Barbary pirates, who were harassing American commerce in the Mediterranean
Jefferson was a great liberal, in fact, America's first liberal president. But then as most politicians when they gain office he seemed to lose his fear of govenment. I guess if one is president he automatically loses some fears. Jefferson also borrowed some 15 million dollars to buy Lousiana and try as he might, could find nothing in the Constitution that allowed a president to buy foreign land and so Jefferson now like Hamilton was embarked on a loose interpretation of the Constitution.