Don’t buy government bonds

posted by
January 13, 2011
Ludwig von Mises Institute
by Frank Chodorov  
Posted in Commentary

"In 1800, the United States Treasury owed $83 million. The population was then three million. Every baby born that year was loaded down with a debt burden of about $28; if the interest rate was 6 percent, the newborn citizen could look forward to paying a service charge on the national debt of $1.68 per year. Today the debt load of the nation comes to well over $290 billion, and the population is, in round figures, 180 million." (published 1962; posted 01/13/11)  


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