One Of These Presidents Is Not Like The Others

"[avoid] likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts, which unavoidable wars may have occasioned, not ungenerously throwing upon posterity the burden, which we ourselves ought to bear." -George Washington

"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." -Thomas Jefferson

"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed." -Abraham Lincoln

"This new [bankruptcy "reform"] law will help make credit more affordable because when bankruptcy is less common, credit can be extended to more people at better rates." -George W. Bush


The bankruptcy "reform" bill Mr. Bush refers to, and recently signed, is a devastating attack on our Founding Fathers' goal of providing effective bankruptcy protection as a means of preserving citizens' freedom from debtors imprisonment, and for mandating an incentive for lenders to behave responsibly and conscionably. The bill was not written by elected officials. It was written by a coalition of credit card companies, banks, and automakers.

So Mr. Bush is encouraging U.S. citizens to accumulate debt (which he calls "credit"), is aiding the "money power" in establishing prejudice against their own constitutional right to bankruptcy protection, and by weakening both cash and bankruptcy protection he has helped private banks to issue currency in the form of "credit" (i.e., debt). Flooding an economy with phantom money ("credit") is a direct cause of inflation.

Meanwhile, the Bush administration continues to increase our national debt with out-of-control spending on a wholly avoidable war, with no intention of bearing that debt themselves, and every intention of "throwing upon posterity the burden" of this astronomical public debt.

All the best,
Paul