Debt Reduces Freedom

Nice TJ quote picked off from a recent Russell tidbit:

"I place economy among the first and most important public virtues and public debt as the great danger to be feared. To preserve our independence, we must not let our leaders load us with perpetual debt. We must make our choice between economy and liberty or profusion and servitude."
--Thomas Jefferson

Economy as TJ uses it here means living within one's means. He is hitting on a fundamental axiom: debt reduces freedom.

Indiana's Templar Knight would likely suggest that, over the past few decades, we have chosen poorly...