David Hume correctly predicted 250 years ago that the government would infallibly abuse the privilege of incurring debt.
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Resident Fellow
Alex J. Pollock |
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To the Editor:
The depressing summation of the government's vast future obligations ("Chump Change," Editorial Commentary, October 20) confirms a prediction made by David Hume about 250 years ago:
"The practice of contracting debt will almost infallibly be abused in every government. It would scarcely be more imprudent to give a prodigal son a credit in every banker's shop in London, than to empower a statesman to draw bills upon posterity."
Alex J. Pollock is a resident fellow at AEI.
