States – Connecticut in particular -- should avoid deficit spending whenever possible for the same reason Mr. Micawber in Charles Dickins’ David Copperfield suffered misery because he had failed to keep his eye on personal debt. If a man had twenty pounds a-year for his income, and spent nineteen pounds nineteen shillings and sixpence, Micawer tells us, he would be happy, but if he spent twenty pounds one he would be miserable -- and committed to a debtors’ prison. Dickens’ father was committed to such a prison. The Debtors' Act of 1869 limited the ability of the courts to sentence debtors to prison, a sign that such prisons were slated for abolition. What we might call the Micawber principle never-the-less still stands as an ominous warning to both persons and states. Although the state of Connecticut is sitting on a massive accumulative state pension debt of some $35 billion, most of the chatter in our media concerns the state’s biennial “surplus.” ...
go home from us in peace. We seek not your counsel or your arms. Crouch down and lick the hand that feeds you;
may your chains set lightly upon you, and may posterity forget that ye were our countrymen!"
--Samuel Adams