public debt, n.Definitions

Public debt (n.) left ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠unchecked may bring a free people to curse their very liberty and wish themselves in the servitude of their neighbours.

Public debt (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠the seed of degeneracy in free governments: mortgage the revenues and in time all the property of the state falls into the hands of the public.

Public debt (n.) deepens ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠as bourgeois property accumulates: individuals grow richer, the state sinks deeper into debt, and at last the state has to beg from the bourgeoisie and is bought up by it.