The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale

Summary

This quote, often attributed to Thomas Jefferson, critiques the concept of government borrowing or "funding" by arguing that it is essentially deceiving future generations. The quote suggests that using borrowed money to cover current expenses burdens future generations with debt and obligations without their consent. It implies that this practice is unethical, as it places the burden on posterity without their choice or ability to influence the decision. In essence, the quote condemns the idea of passing on financial burdens to future generations, labeling it as a fraudulent act conducted on a massive scale.

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