Perpetual Debt, Perpetual War

It’s always useful to visit the museum in order to offset the recency bias that distorts perceptions of current realities.

In the great scheme of things, the picture below is admittedly not that ancient—-from just 42 years ago. But it is nevertheless a museum piece because it pertains to a matter that has long since faded from the scene. Namely, the public debt and in this instance the day when your editor was compelled to warn the Gipper that the Federal debt was about to cross the dreaded one trillion dollar mark.

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