a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3c1ymR8Yxk4YcUwePvGke27qpO5oURBydT-u2yAEsLionfpAEB5QHhYE8A1uM9Jdfj_O9UHhPr0hi6IF720qyI8aR_9FttNXQdo_HW1p2pvjX5GOoNWatXBeIrQ-5B98Qm5G_DJeTWLaA/s1600-h/thomas+babington+macaulay.jpeg"img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 79px; height: 115px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3c1ymR8Yxk4YcUwePvGke27qpO5oURBydT-u2yAEsLionfpAEB5QHhYE8A1uM9Jdfj_O9UHhPr0hi6IF720qyI8aR_9FttNXQdo_HW1p2pvjX5GOoNWatXBeIrQ-5B98Qm5G_DJeTWLaA/s320/thomas+babington+macaulay.jpeg" alt="" id="BLOGGER_PHOTO_ID_5354330201123213042" border="0" //abr /Hopi Sen a href="http://hopisen.wordpress.com/2009/07/01/forward-with-macaulayism/" quotes Thomas Macaulay /a on the issue of the national debt. Macaulay was critical of those who had thought the national debt in the post-Napoleonic War era was that terrible. He said:br /br /span style="font-style: italic;"...it was in truth, a gigantic, a fabulous debt; and we can hardly wonder that the cry of despair should have been louder than ever. But again that cry was found to be as unreasonable as ever. After a few years of exhaustion, England recovered herself…/span p style="font-style: italic;"…the beggared, the bankrupt society not only proved able to meet all it’s obligations, but while meeting it’s obligations grew richer and richer so fast that the growth could almost be discerned by the eye. In every county we saw wastes recently turned into gardens, in every city we say new streets, and squares, and markets, more brilliant lamps, more abundant supplies of water; in the suburbs of every great seat of industry we say villa’s multipliying fast, each emblossened in it’s gay little paradise of lilacs and roses.br //pbr /It is a quote to bear in mind when certain people make the national debt into the main political issue of the moment - calling for its reduction even at the cost of increasing unemployment and slowing growth. If an increased national debt leads to a situation where the economy is growing and the country is prospering, then it is not a curse but a blessing.div class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/38622711-5302527824040347574?l=vinospoliticalblog.blogspot.com'//div
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