EndrTimes: Obama discusses US credit downgrade

Monday, August 08, 2011

Obama discusses US credit downgrade

http://www.wral.com/news/video/9967386/

Obama discusses US credit downgrade

President Barack Obama says he's hopeful that the downgrading of U.S. credit rating will give urgency to solving the nation's debt problems.

Today - 2:09pm

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Le Troisième Ange

Sir Alexander Fraser Tytler

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess of the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's great civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to complacency; from complacency to apathy; from apathy to dependency; from dependency back again to bondage.”

John Emerich Edward Dalberg-Acton (Lord Acton)

"I cannot accept your canon that we are to judge Pope and King unlike other men with a favourable presumption that they did no wrong. If there is any presumption, it is the other way, against the holders of power, increasing as the power increases. Historic responsibility has to make up for the want of legal responsibility. Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men, even when they exercise influence and not authority: still more when you superadd the tendency or certainty of corruption by full authority. There is no worse heresy than the fact that the office sanctifies the holder of it."

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