We have previously mentioned the extraordinary debt of the U.S. federal government. Should we blame it all on those nasty bankers?
From The Conspiracy Made Us Do It! by Gary North:
The United States is so far down the road of debt that there is no turning back without default. How did we get here? We got here because the voters approved of the politics of plunder. They were not hoodwinked. They voted for people who self-consciously appealed to the worst influence of the voters, and promised that the government would steal from the rich and give to the poor. We did this to ourselves. So did our parents. So did our grandparents. This did not happen overnight. This level of debt, matched by the depreciation of the dollar since 1914 of 95%, did not happen in a corner; it happened in full public view.
The voters love it. Make no mistake about this. The voters are absolutely committed to a government which will continue to plunder one group of citizens on behalf of another. American politics is about plunder; it is not about rolling back the size of government.
The voters do not want to roll back the level of American government. They want to use the American government to roll over their political opponents. So, the conspiracy which is behind both political parties uses the government's steamroller to roll over one group of voters and then, one or two elections later, roll over the other group of voters. This is what the voters want. They believe in the steamroller. They do not believe that the steamroller should be disassembled on a permanent basis.
The rich rules over the poor,
And the borrower is slave to the lender.