
By Selwyn Duke
“A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury,” goes the famous apocryphal warning. “From that moment on, the majority always votes for the candidates who promise the most benefits….” The result of this “is that every democracy will finally collapse due to loose fiscal policy.” This is then “always followed by a dictatorship.”
The warning also holds that the “average age of the world’s greatest civilizations” has historically “been about 200 years.” Given that the United States is now 250 years old and $39-trillion fiscally loose, what should be said about her?
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