Source: cracked.com,

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On the National Debt: “If the Treasury & the Fed just stare at this figure & don’t do anything, the compounding interest on $12 trillion will ‘eat us up alive’. With $12 trillion in national debt, the US must try to inflate the debt away or renege on it. Reneging on the debt is unthinkable, which leaves the inflation strategy. The problem must be addressed, since if it is not, the compounding factor will simply make the problem that much more intractable.”
- Richard Russell