I have a huge financial problem. My checkbook is severely overdrawn; my credit cards are maxed out; my credit rating is in the toilet. Technically, I am bankrupt, only I don’t know it. But, still, I want to spend, spend, spend. I know I should curb my spending. I know I can’t afford all the expenses I am incurring, but I can’t help myself. What do I do? What can I do?
But, wait, I don’t have to worry. I am the United States Government. I don’t have to repay my debt. I can just keep on printing money. Phew! To hell with the debt. Let my children and grandchildren worry about it.
Folks, that just about sums up most Americans’ current attitude. Spend, spend, spend. I don’t care as long as I get mine. Be oblivious to the debt piling up. Let someone else worry about repaying it. maybe, we won’t ever repay it. I don’t care. Not my problem.
“Tax the ‘rich.’ Let them take care of the debt.” Polls show that’s the solution most Americans favor. The only flaw in that solution is that even if the government were to raise the top tax rates to the levels proposed by Mr. Obama it would only make a very small dent in the debt. There are simply not enough “rich” people. We need to make meaningful cuts in spending as well, painful as that might be.
Conclusion
The sad fact of the matter is that we allow, or even encourage, the Federal government to conduct its affairs in a way that we would not dream of running our own personal affairs. Most Americans have little or no conception of the problem, and many who do are too busy with their daily lives to make a big issue of it. Wake up people! If this massive debt continues to grow at the current rate it will soon threaten the very core of our economy, our very way of life! Ignoring the matter is no longer an option. Our representatives have been irresponsible to spend us into this mess, but we have also been irresponsible to allow, or even encourage, it. We should be horrified! Let’s stop it! Let’s stop it now before it’s too late!!
We Built It Blog by Larry Jacob 