Ann272 Wrote:
Jan 09, 2013 10:43 AM
Rep. Walden is absolutely correct to start sounding the alarm on further debasing the nation's currency. In 1862, to pay for the Civil War, and because it was feared the nation was headed into bankruptcy, President Lincoln created paper money though the Constitution called for "coin" as legal tender. In 1932 President Roosevelt took the country off the gold standard to pay for his New Deal, which presumably saved the nation during the Great Depression. Why would anyone think that an administration which has modeled itself on FDR's socialist programs will hesitate at this point?