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Thomas Jefferson said it best, "We must not let our rulers load us with perpetual debt.
We must make our election between economy and liberty
or profusion and servitude.
If we run into such debt, as that we must be taxed in our meat and
in our drink, in our necessaries and our comforts, in our labors and
our amusements, for our calling and our creeds...
[we will] have no time to think,
no means of calling our miss-managers to account
but be glad to obtain subsistence by hiring ourselves
to rivet their chains on the necks of our fellow-sufferers...
And this is the tendency of all human governments.
A departure from principle in one instance
becomes a precedent for [another ]...
till the bulk of society is reduced to be mere automatons of misery...
And the fore-horse of this frightful team is public debt.
Taxation follows that, and in its train wretchedness and oppression."
What else can I help you with?
The cause and effect of the great deppression?
The stock market crashed and people ran out of money wich coused the country to go into debt
Who borrowed the Philippine debt?
The Philippine debt has been borrowed by various creditors over the years, including foreign governments, international financial institutions like the World Bank and Asian Development Bank, and private investors. The country's debt profile includes both domestic and external debt.
What effect does a country's economic development have on international business?
Economic development of a country ensures that the global economy becomes more stable. It also makes international business much easier and lucrative.
. What effect does a country's economic development have on international business?
Economic development of a country ensures that the global economy becomes more stable. It also makes international business much easier and lucrative.
What effect did the national debt have on France?
NOTHING the national debt was completely irrelevant.
What is an effect of increased cell phone use in Kenya?
It caused the development of one of the country's first modern infrastructure.
What is a sentence for the word national debt?
The national debt of this country is ridiculous.
What is debt-for-nature swap?
A debt-for-nature swap is a financial agreement in which a portion of a country's foreign debt is forgiven in exchange for commitments to protect and restore its natural environment. This arrangement often involves NGOs or international organizations that provide funds to pay off the debt, allowing the country to allocate resources towards conservation efforts. Such swaps aim to alleviate financial pressures while promoting biodiversity conservation and sustainable development.
What are the factors that negatively effect the development of a country?
Some factors that can negatively affect the development of a country include political instability, corruption, inadequate infrastructure, lack of access to education and healthcare, natural disasters, poor governance, and economic inequality. These issues can hinder economic growth, social progress, and overall development of a country.
Can be underdevelopment country to development country?
Development
How much does Haiti owe the world bank?
As of recent reports, Haiti's debt to the World Bank is estimated to be around $1.2 billion. This debt is part of a larger financial burden that includes loans from other international organizations and countries. The country's economic challenges, exacerbated by political instability and natural disasters, make it difficult for Haiti to manage its debt obligations effectively. Efforts have been made to seek debt relief and support for development initiatives in the country.
How does a country in debt make people poor?
It takes their money in order to get out of debt.
