From Jefferson to Greenspan: American leaders freaking out about the deficit

According to the U.S. Treasury, the current national debt amounts to an unfathomable $13,624,678,196,435.07. Politicians are starting to panic.

Gus Lubin of Business Insider points out that deficit alarmism is nothing new: “People have been freaking out about the national debt since 1790, when Alexander Hamilton proposed incorporating $75 million in war debt into the first national bank.”

Lubin has put together a slideshow of American leaders thoughout history — including Pres. Washington, Pres. Coolidge, Sen. Strom Thurmond and former Fed Chair Alan Greenspan — who have warned the deficit will bring the nation to ruin.

Click here to view the slideshow.

Will the state of the federal deficit impact how you vote the November elections? Let us know in the comment section below.

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