It is indeed very prescient. However, George did not write it. Madison and Jefferson did.

It goes to show, these men were quite apt to recognize the dangers as they point to the most important aspect: virtue.

While I was reading the Oera Linda Bok, it describes the same issue:

1. independence requires seeking out solutions based on a simple question: does this enhance my independence or make me dependent. or as Cicero wrote his son: a mind well molded by nature, compels us to look into nature and find solutions to our challenges.
2. love for virtue
3. love for freedom

These are not new concepts, but it goes to show, how easy it is to lose freedom, and lose the one thing that is most profound: our humanity, as we, as a being, are the embodiment of rights, or, as the Declaration of Independence would have it: inalienable rights. It is not about what we have, but about who we are.