Until bankruptcy will us part

MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger:
WASHINGTON – President Barack Obama sent Congress a $3.83 trillion budget on Monday that would pour more money into the fight against high unemployment, boost taxes on the wealthy and freeze spending for a wide swath of government programs.
The deficit for this year would surge to a record-breaking $1.56 trillion, topping last year's then unprecedented $1.41 trillion gap..."
thttp://news.yahoo.com/s/ap/20100201/ap_on_go_pr_wh/us_budget

In his 1776 Adam Smith wrote in his Wealth of Nations
"When national debts have once been accumulated to a certain degree, there is a scare, I believe, a single instance of their having been fairly and completely paid. The liberation of the public revenue, if it hs ever been brought about at all, has always been brought about by a bankruptcy; sometimes by an avowed on, but alwasy ba real one, thourgh frequently be a pretended payment."
Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, Bk. V, CH. III, PT. V
Of Public Debts