“We believe – or we act as if we believed – that although an individual father cannot alienate the labor of his son, the aggregate body of fathers may alienate the labor of all their sons, of their posterity, in the aggregate, and oblige them to pay for all the enterprises, just or unjust, profitable or ruinous, into which our vices, our passions or our personal interests may lead us. But I trust that this proposition needs only to be looked at by an American to be seen in its true point of view, and that we shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves.” – Thomas Jefferson, 1813. Alas, the boomers have no intention of honoring their offspring. And the president has added mountains of debt to the future generations. What I like about Jefferson’s statement is that he realizes that acquiring long-term debt for no good reason is immoral.
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The Dish 