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July 31, 2011
"Sixteen Tons" The Corrosive Effects of Massive Debt
but those effects are very substantial. Chief among them is a sense of being disempowered and anxiety-ridden -- both individually and collectively -- and, therefore, unable to assert our values here at home, let alone abroad. This is the case because being in debt, and watching that debt grow, without a credible, concrete plan to retire that debt, makes millions of Americans of all ages feel like they are living in the last stages of a bankrupt culture. A free economy is a miracle, and when it is manipulated through fictitious bailouts and stimulus packages and taking of loans that can't be repaid, the American people sense that the story we have been writing -- of individual liberty and free markets and human rights -- can't be real, certainly not for the long haul. It makes them feel as though they are sleepwalking through times that are actually borrowed time. -- Chicago Boyz
Posted by Vanderleun at July 31, 2011 1:27 PM. This is an entry on the sideblog of American Digest: Check it out.